- Company doubles down on BESS as a priority focus in 2024, having expanded its global pipeline to 6GWh in 2023.
Australia andItaly are hotspots for significant expansion of origination portfolio, alongside entry into Polish market.- Further expansion of
UK portfolio, as pioneering Richborough project enters first full year of operation and construction is underway at huge Sheaf project.
Having achieved rapid pipeline growth to 6GWh in 2023 - taking scale positions in the emerging Italian and Australian energy storage markets, as well as moving its first project into operation at Richborough,
Recent strategic milestones have included commissioning the 99.8MWh Richborough Energy Park, achieving financial close at neighbouring 373.5MWh Sheaf Energy Park - one of the first and largest non-recourse debt financed BESS sites in the world, and transferring ownership of both projects to energy transition fund Sosteneo.
2024 priorities include progressing construction of Sheaf Energy Park ahead of its
Having last year secured land exclusivity agreements for two major BESS projects in
Pacific Green’s Australian team is targeting financial close on its first 500MWh of storage capacity this year, ahead of the start of commercial operations in 2026.
Having acquired a majority shareholding in five battery energy parks in
The team also aims to further expand its origination portfolio to almost 5GWh in total.
“We’re focused on rolling out next-generation battery energy parks at scale and at speed – drawing on a unique combination of technology, project development and project finance expertise, alongside relationships cultivated with trusted partners throughout the BESS supply chain.
“Our work in 2023 demonstrated the speed and efficiency with which our team can bring forward vital new BESS assets and deliver significant value to our shareholders – and we intend to continue building the pace in 2024 and beyond.
“The role of battery storage in advancing the energy transition is no longer debatable – but to achieve the momentous growth that’s needed in operational capacity, the market needs to double down on its efforts to originate workable projects and commercialise and deploy the technology efficiently. We’re laser focused on building the pipeline, the team and the international relationships needed to make a real difference in this sector.”
-ENDS-
About
The business is focused on rapidly building a global portfolio of utility-scale battery energy storage systems (BESS), with a current total of 6GWh 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: www.pacificgreen.com
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 the Project, any potential business developments and future interest in Pacific Green’s battery, solar and environmental 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 the Project, general economic and political conditions. These forward-looking statements are made as of the date of this news release, and
For media enquiries, please contact: pacificgreen@tamarindo.globalScott Poulter , Chairman & CEOPacific Green Technologies, Inc. T: +1 (302) 601-4659
Source:
2024 GlobeNewswire, Inc., source