Pacific Green Completes Sale of 250MW / 500 MWh Limestone Coast North Battery Energy Park Development
Pacific Green Technologies (OTCQB: PGTK) has completed the sale of its Limestone Coast North Energy Park to Intera Renewables for A$460 million (US$293 million). The project features a 250MW / 500MWh battery energy storage development in South Australia, marking the first Financial Close from the company's 10GWh Australian pipeline.
Construction will begin in March 2025, with commercial operations targeted for February 2027. Gransolar Group will serve as Balance of Plant contractor, while Trina Storage will supply the battery system. Pacific Green will maintain involvement as construction manager and provide supply chain management through its Shanghai-based team.
The project has secured key partnerships, including a long-term offtake agreement with Zen Energy. This development showcases Pacific Green's ability to manage utility-scale storage projects from site acquisition through construction, demonstrating their market-leading development model for sustainable energy solutions in Australia.
Pacific Green Technologies (OTCQB: PGTK) ha completato la vendita del suo Energy Park Limestone Coast North a Intera Renewables per A$460 milioni (US$293 milioni). Il progetto prevede uno sviluppo di 250MW / 500MWh di accumulo di energia tramite batterie in Australia Meridionale, segnando il primo Financial Close del pipeline australiana da 10GWh dell'azienda.
I lavori di costruzione inizieranno a marzo 2025, con operazioni commerciali previste per febbraio 2027. Gransolar Group fungerà da appaltatore per il Balance of Plant, mentre Trina Storage fornirà il sistema di batterie. Pacific Green manterrà un ruolo attivo come manager di costruzione e fornirà gestione della catena di approvvigionamento tramite il suo team con sede a Shanghai.
Il progetto ha assicurato partnership chiave, inclusa un'accordo di acquisto a lungo termine con Zen Energy. Questo sviluppo dimostra la capacità di Pacific Green di gestire progetti di accumulo su scala utility, dalla acquisizione del sito alla costruzione, evidenziando il loro modello di sviluppo leader di mercato per soluzioni energetiche sostenibili in Australia.
Pacific Green Technologies (OTCQB: PGTK) ha completado la venta de su Energy Park Limestone Coast North a Intera Renewables por A$460 millones (US$293 millones). El proyecto incluye un desarrollo de 250MW / 500MWh de almacenamiento de energía en baterías en Australia del Sur, marcando el primer Cierre Financiero del pipeline australiano de 10GWh de la empresa.
La construcción comenzará en marzo de 2025, con operaciones comerciales previstas para febrero de 2027. Gransolar Group actuará como contratista del Balance of Plant, mientras que Trina Storage suministrará el sistema de baterías. Pacific Green mantendrá su participación como gerente de construcción y proporcionará gestión de la cadena de suministro a través de su equipo con sede en Shanghái.
El proyecto ha asegurado asociaciones clave, incluida un acuerdo de compra a largo plazo con Zen Energy. Este desarrollo demuestra la capacidad de Pacific Green para gestionar proyectos de almacenamiento a escala de servicios públicos, desde la adquisición del sitio hasta la construcción, destacando su modelo de desarrollo líder en el mercado para soluciones de energía sostenible en Australia.
퍼시픽 그린 테크놀로지스 (OTCQB: PGTK)는 인터라 재생 가능 에너지에 리마스톤 코스트 노스 에너지 파크를 A$460 백만 (US$293 백만)에 판매 완료했습니다. 이 프로젝트는 남호주에서 250MW / 500MWh 배터리 에너지 저장 개발을 포함하며, 회사의 10GWh 호주 파이프라인의 첫 번째 재무 마감입니다.
건설은 2025년 3월에 시작되며, 상업 운영은 2027년 2월을 목표로 하고 있습니다. 그란솔라 그룹이 플랜트 균형 계약자로 활동하고, 트리나 스토리지가 배터리 시스템을 공급할 것입니다. 퍼시픽 그린은 건설 관리자 역할을 유지하며 상하이에 본사를 둔 팀을 통해 공급망 관리를 제공합니다.
이 프로젝트는 제너 에너지와의 장기 구매 계약을 포함하여 주요 파트너십을 확보했습니다. 이 개발은 퍼시픽 그린이 부지 확보부터 건설까지 유틸리티 규모의 저장 프로젝트를 관리할 수 있는 능력을 보여주며, 호주에서 지속 가능한 에너지 솔루션을 위한 시장 선도적인 개발 모델을 입증합니다.
Pacific Green Technologies (OTCQB: PGTK) a finalisé la vente de son Energy Park Limestone Coast North à Intera Renewables pour A$460 millions (US$293 millions). Le projet comprend un développement de 250MW / 500MWh de stockage d'énergie par batterie en Australie-Méridionale, marquant le premier Clôture Financière du pipeline australien de 10GWh de l'entreprise.
La construction débutera en mars 2025, avec des opérations commerciales prévues pour février 2027. Le groupe Gransolar agira en tant qu'entrepreneur pour l'équilibre de l'installation, tandis que Trina Storage fournira le système de batteries. Pacific Green conservera un rôle actif en tant que gestionnaire de construction et fournira la gestion de la chaîne d'approvisionnement grâce à son équipe basée à Shanghai.
Le projet a sécurisé des partenariats clés, y compris un accord d'achat à long terme avec Zen Energy. Ce développement démontre la capacité de Pacific Green à gérer des projets de stockage à l'échelle des services publics, de l'acquisition du site à la construction, mettant en avant leur modèle de développement leader du marché pour des solutions énergétiques durables en Australie.
Pacific Green Technologies (OTCQB: PGTK) hat den Verkauf seines Limestone Coast North Energy Parks an Intera Renewables für A$460 Millionen (US$293 Millionen) abgeschlossen. Das Projekt umfasst eine 250MW / 500MWh Batteriestorage Entwicklung in Südaustralien und markiert den ersten Finanzabschluss aus der 10GWh-Pipeline des Unternehmens in Australien.
Der Bau beginnt im März 2025, mit geplanten kommerziellen Betrieb im Februar 2027. Die Gransolar Group wird als Balance of Plant Auftragnehmer fungieren, während Trina Storage das Batteriesystem liefern wird. Pacific Green wird als Bauleiter aktiv bleiben und das Management der Lieferkette durch sein in Shanghai ansässiges Team bereitstellen.
Das Projekt hat wichtige Partnerschaften gesichert, einschließlich eines langfristigen Abnahmevertrags mit Zen Energy. Diese Entwicklung zeigt die Fähigkeit von Pacific Green, Projekte für die Speicherung im Utility-Maßstab von der Standortakquisition bis zur Konstruktion zu verwalten, und demonstriert ihr marktführendes Entwicklungsmodell für nachhaltige Energielösungen in Australien.
- Successful sale of battery project for A$460M (US$293M), demonstrating profitable development capability
- First Financial Close achieved from 10GWh Australian project pipeline
- Secured long-term offtake agreement with Zen Energy
- Maintains revenue stream through ongoing construction management role
- Long timeline to commercial operations (February 2027)
- Complete divestment of asset ownership means reduced long-term revenue potential
Sydney, March 20, 2025 (GLOBE NEWSWIRE) -- Pacific Green Technologies, Inc. ("Pacific Green", OTCQB: PGTK) announces that it has reached Financial Close and completed the sale of
The Limestone Coast North Energy Park is Pacific Green’s 250MW / 500MWh battery energy storage development and is one of two battery parks to be co-located on a site in the south east of South Australia. The project is the first of the company’s 10GWh Australian project pipeline to reach Financial Close. This achievement underscores Pacific Green’s commitment to delivering innovative energy solutions and contributing to a sustainable future.
With the transaction now completed, ownership of the energy park will be transferred to Intera. Intera is the renewable energy platform established, and majority owned by funds managed by Palisade Investment Partners (Palisade), an Australian based infrastructure and real assets manager.
Notice to Proceed has been issued to Gransolar Group as Balance of Plant contractor who will begin construction this month, with commercial operations targeted for February 2027. In addition, Notice to Proceed has been issued to Trina Storage to supply the 250MW / 500MWh battery energy storage system (BESS).
Pacific Green will continue its involvement as construction manager, directing Gransolar and Trina Storage. Leveraging its 50-strong Shanghai-based support team, Pacific Green will also provide supply chain management and quality assurance for the project. This will ensure the highest standards of execution, drawing on Pacific Green’s extensive experience delivering utility-scale BESS and renewable energy assets.
The rapid progression of the project from inception to Financial Close highlights Pacific Green’s market-leading development model. This focuses on creating robust opportunities for investors seeking sustainable returns, through close management of every aspect of project development. Pacific Green’s team has brought Limestone Coast North through site acquisition planning and grid approvals, battery energy storage system (BESS) procurement, community engagement, appointment of construction and operational contractors and securing a long term offtake agreement with Zen Energy.
Scott Poulter, Pacific Green’s CEO, commented: “With Limestone Coast North, our team has capitalised on our global footprint to create a template for the responsible development and financing of utility-scale storage in Australia. Key to this has been cultivating strong relationships with respected partners like Palisade and Zen Energy, Gransolar and Trina Storage who share our commitment to bringing stability to the Australian grid.”
Simon Parbery, Executive Director for Palisade, stated: “We are delighted to achieve this significant milestone for Intera, and look forward to partnering with Pacific Green in delivering this key project through to commissioning and operations, providing both sustainable long-term returns to Intera’s investors and supporting Australia’s energy de-carbonation ambitions.
Joel Alexander, Pacific Green Australia CEO and Managing Director, commented: “I am delighted this transaction has reached Financial Close. The relative speed in which we’ve got to this point is testament to our market leading development model but also to the two teams involved; our own and our counterparts at Intera and Palisade. I am truly thrilled to commence construction and deliver one of South Australia’s largest energy parks.”
Palisade were advised by Macquarie Capital, Kidder Williams, KWM, Clayton Utz and Ekistica.
Pacific Green was advised by Azure Capital, WSP and Allens Linklaters. Development capital was provided by Australian Philanthropic Services Foundation.
About Pacific Green Technologies, Inc.:
Pacific Green is a global energy storage and environmental technology company, on a mission to advance the transition to sustainable energy solutions.
The business is focused on rapidly building a global portfolio of utility-scale battery energy storage systems (BESS), with a current pipeline of 14GWh of energy storage capacity in development, construction or operation.
Pacific Green’s team brings together extensive technology, project development and project finance expertise – having commercialised numerous pioneering technologies and steered major international energy and infrastructure projects successfully through financing and development.
This in-house expertise is complemented by strategic relationships cultivated with trusted partners at all levels of the global environmental supply chain – providing access to the very best technology and manufacturing capabilities on offer, alongside internationally respected financial institutions and project partners.
For more information, visit Pacific Green’s website:
www.pacificgreen.com
About Palisade
Palisade is a specialist, independent global infrastructure and real assets manager that provides institutional and wholesale investors with access to infrastructure and infrastructure-like projects through tailored portfolios and co-mingled funds. Palisade’s multi-disciplinary and experienced team focuses on attractive mid-market assets that are essential to the efficient functioning of the communities and economies they serve.
Palisade is an early investor in the clean energy sector and manages and operates a diverse portfolio of renewable energy assets in Australia and the US. These assets total over 2GW of installed generation capacity on a
Notice Regarding Forward-Looking Statements:
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the continued development of Limestone Coast North BESS project, any potential business developments and future interest in the Company’s battery, solar and emissions control technologies.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the continuation of the development of Limestone Coast North project, general economic and political conditions, and the ongoing impact of the COVID-19 pandemic. These forward- looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in the Company’s annual report on Form 10-K for the most recent fiscal year, the Company’s quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Georgia Bollard - Public Relations, Marketing and Engagement Manager, Pacific Green (Australia) T: +61 450 454 434 E: georgia.bollard@pacificgreen.com
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