Pacific Green Signs Agreement to Sell Its 250MW / 500MWh Limestone Coast North Battery Energy Park Development
Pacific Green Technologies (OTCQB: PGTK) has signed an agreement to sell its Limestone Coast North Energy Park to Intera Renewables for A$460 million (US$293 million). The project, a 250MW / 500MWh battery energy storage development in South Australia, will begin operations in early 2027.
Pacific Green will manage the construction through completion, after which Palisade Integrated Management Services will handle asset management. This project is part of Pacific Green's broader 10GWh development pipeline in Australia, which includes additional projects: Limestone Coast West (250MW / 1,000MWh), Portland Energy Park (1,000MW / 2,500MWh), and a new development in Wagga Wagga, NSW.
The company has also secured a long-term tolling Power Purchase Agreement with Zen Energy. The project aims to strengthen the region's grid stability and support Australia's net-zero transition.
Pacific Green Technologies (OTCQB: PGTK) ha firmato un accordo per vendere il suo Limestone Coast North Energy Park a Intera Renewables per A$460 milioni (US$293 milioni). Il progetto, che prevede uno sviluppo di stoccaggio di energia con batterie da 250MW / 500MWh in Australia Meridionale, inizierà le operazioni all'inizio del 2027.
Pacific Green gestirà la costruzione fino al completamento, dopodiché Palisade Integrated Management Services si occuperà della gestione degli asset. Questo progetto fa parte del più ampio portafoglio di sviluppo di 10GWh di Pacific Green in Australia, che include ulteriori progetti: Limestone Coast West (250MW / 1.000MWh), Portland Energy Park (1.000MW / 2.500MWh) e un nuovo sviluppo a Wagga Wagga, NSW.
L'azienda ha inoltre ottenuto un contratto di acquisto di energia a lungo termine con Zen Energy. L'obiettivo del progetto è rafforzare la stabilità della rete della regione e supportare la transizione dell'Australia verso le zero emissioni nette.
Pacific Green Technologies (OTCQB: PGTK) ha firmado un acuerdo para vender su Limestone Coast North Energy Park a Intera Renewables por A$460 millones (US$293 millones). El proyecto, un desarrollo de almacenamiento de energía con baterías de 250MW / 500MWh en Australia del Sur, comenzará operaciones a principios de 2027.
Pacific Green gestionará la construcción hasta su finalización, después de lo cual Palisade Integrated Management Services se encargará de la gestión de activos. Este proyecto es parte de la cartera de desarrollo más amplia de 10GWh de Pacific Green en Australia, que incluye proyectos adicionales: Limestone Coast West (250MW / 1.000MWh), Portland Energy Park (1.000MW / 2.500MWh) y un nuevo desarrollo en Wagga Wagga, NSW.
La empresa también ha asegurado un contrato de compra de energía a largo plazo con Zen Energy. El objetivo del proyecto es fortalecer la estabilidad de la red de la región y apoyar la transición de Australia hacia cero emisiones netas.
퍼시픽 그린 테크놀로지스 (OTCQB: PGTK)는 인터라 리뉴어블스에 리임스톤 코스트 노스 에너지 파크를 A$460 백만 (US$293 백만)에 판매하는 계약을 체결했습니다. 이 프로젝트는 호주 남부에서 250MW / 500MWh 배터리 에너지 저장 개발로, 2027년 초에 운영을 시작할 예정입니다.
퍼시픽 그린은 완공까지 건설을 관리하며, 이후 팔리세이드 통합 관리 서비스가 자산 관리를 맡게 됩니다. 이 프로젝트는 호주에서 퍼시픽 그린의 10GWh 개발 파이프라인의 일환으로, 추가 프로젝트로는 리임스톤 코스트 웨스트 (250MW / 1,000MWh), 포틀랜드 에너지 파크 (1,000MW / 2,500MWh), 그리고 NSW의 와가 와가에 새로운 개발이 포함됩니다.
회사는 또한 젠 에너지와 장기 전력 구매 계약을 체결했습니다. 이 프로젝트는 지역의 전력망 안정성을 강화하고 호주의 탄소 중립 전환을 지원하는 것을 목표로 합니다.
Pacific Green Technologies (OTCQB: PGTK) a signé un accord pour vendre son Limestone Coast North Energy Park à Intera Renewables pour A$460 millions (US$293 millions). Le projet, un développement de stockage d'énergie par batterie de 250MW / 500MWh en Australie-Méridionale, commencera ses opérations début 2027.
Pacific Green gérera la construction jusqu'à son achèvement, après quoi Palisade Integrated Management Services s'occupera de la gestion des actifs. Ce projet fait partie du pipeline de développement plus large de 10GWh de Pacific Green en Australie, qui comprend d'autres projets : Limestone Coast West (250MW / 1.000MWh), Portland Energy Park (1.000MW / 2.500MWh) et un nouveau développement à Wagga Wagga, NSW.
L'entreprise a également sécurisé un contrat d'achat d'énergie à long terme avec Zen Energy. L'objectif du projet est de renforcer la stabilité du réseau de la région et de soutenir la transition de l'Australie vers des émissions nulles nettes.
Pacific Green Technologies (OTCQB: PGTK) hat einen Vertrag unterzeichnet, um ihren Limestone Coast North Energy Park für A$460 Millionen (US$293 Millionen) an Intera Renewables zu verkaufen. Das Projekt, eine 250MW / 500MWh Batterie-Energiespeicherentwicklung in Südaustralien, wird Anfang 2027 in Betrieb genommen.
Pacific Green wird den Bau bis zur Fertigstellung leiten, danach wird Palisade Integrated Management Services das Asset-Management übernehmen. Dieses Projekt ist Teil von Pacific Greens umfassender 10GWh-Entwicklungspipeline in Australien, die zusätzliche Projekte umfasst: Limestone Coast West (250MW / 1.000MWh), Portland Energy Park (1.000MW / 2.500MWh) und eine neue Entwicklung in Wagga Wagga, NSW.
Das Unternehmen hat außerdem einen langfristigen Stromabnahmevertrag mit Zen Energy gesichert. Das Ziel des Projekts ist es, die Netzstabilität der Region zu stärken und Australiens Übergang zu Netto-Null-Emissionen zu unterstützen.
- Sale of Limestone Coast North Energy Park for A$460 million (US$293 million)
- Secured long-term tolling Power Purchase Agreement with Zen Energy
- Retention of construction management role through project completion
- Part of larger 10GWh development pipeline across Australia
- None.
Sydney, Feb. 21, 2025 (GLOBE NEWSWIRE) -- Pacific Green Technologies, Inc. ("Pacific Green", OTCQB: PGTK) announces that it has signed binding documentation for the sale of
The Limestone Coast North Energy Park is Pacific Green’s 250MW / 500MWh battery energy storage development in the Limestone Coast region of South Australia (“Limestone Coast North”) which will begin commercial operations in early 2027.
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.
The asset, the first of two energy parks being developed in Limestone Coast by Pacific Green, will significantly strengthen the region’s grid stability and help further accelerate Australia’s net-zero transition. As part of the Transaction, Pacific Green will be retained to manage the construction of the project through to commercial operations following which Palisade Integrated Management Services (PIMS) will carry out asset management activities through its role as Intera’s asset manager.
Limestone Coast North marks the latest milestone in a major period of growth for Pacific Green in Australia. It is the first of a 10GWh development pipeline of battery energy parks the company is rolling out throughout the country. Limestone Coast West, a 250MW / 1,000MWh battery energy storage development is finalising grid approvals with construction expected to commence in September 2025. Portland Energy Park, 1,000MW / 2,500MWh across four co-located battery assets in Victoria, is finalising development approval with construction expected to commence in March 2026. In November 2024, Pacific Green announced the acquisition of land rights in Wagga Wagga, where the company will develop its first NSW project.
Pacific Green is aiming to be one of Australia’s leading utility-scale battery developers, by building a multi-gigawatt platform nationwide. The deployment is aided by the team’s significant experience developing battery energy parks in Europe.
Scott Poulter, Pacific Green’s CEO, commented: “We are delighted to have entered this agreement with Palisade, one of Australia’s leading infrastructure fund managers. Limestone Coast North is critical to South Australia’s Electricity network and is the first of Pacific Green’s 10 GWh Australian pipeline. We are also very pleased to enter into the first of a portfolio of long term tolling Power Purchase Agreements with Zen Energy.”
Simon Parbery, Executive Director for Palisade, stated: “We are excited to be working with Pacific Green on this significant project for both our investors, and Australia’s broader clean energy transition goals. Limestone Coast North represents Palisade’s first investment in large-scale energy storage, providing both attractive risk-adjusted returns, as well as long term strategic benefits for our Australian renewables platform.”
Joel Alexander, Pacific Green Australia Managing Director and CEO commented: “This is a significant milestone for our Australian business and underscores our focus on assets that represent clear commercial feasibility and deliver net-zero objectives for Australia. The backing of Palisade, a leading global infrastructure and real assets manager, will accelerate the build out of the Limestone Coast North Energy Park and ensure it reaches operational stage by early 2027.”
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.
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