Global energy storage and environmental technology company, Pacific Green Technologies, Inc., is set to achieve more than 12GWh of battery energy storage capacity across four global markets.
In 2023, Pacific Green experienced rapid pipeline growth, reaching 6GWh. The company secured significant positions in the emerging Italian and Australian energy storage markets and successfully initiated its first project at Richborough, UK. Moving forward, Pacific Green is intensifying its focus on utility-scale battery energy storage systems (BESS) as a key priority for 2024 and beyond.
Australia and Italy are focal points for further pipeline expansion, with plans to rejuvenate the origination portfolio in the maturing UK market and make initial strides into the nascent Polish market. The company aims for a minimum of 1GWh capacity in each market entered, with specific 2024 targets outlined:
- UK – Operation / Development / Origination:
- Commissioned the 99.8MWh Richborough Energy Park.
- Achieved financial close at the 373.5MWh Sheaf Energy Park.
- Transferred ownership of both projects to energy transition fund Sosteneo.
- Priorities for 2024 include advancing construction at Sheaf Energy Park and expanding the UK origination portfolio.
- Australia – Development / Origination:
- Secured land exclusivity agreements for two major BESS projects in Southern Australia with 3GWh of storage capacity.
- Aims to double the greenfield origination pipeline to 6GWh+.
- Targeting financial close on the first 500MWh of storage capacity this year, with commercial operations set to begin in 2026.
- Italy – Development / Origination:
- Acquired a majority shareholding in five battery energy parks in Italy, totaling 2.8 GWh capacity.
- Aiming for financial close on the first 1,500MWh of storage capacity this year, with commercial operations starting in 2026.
- Aiming to expand the origination portfolio to nearly 5GWh.
- Poland – Origination:
- Intending to enter the nascent Polish market in 2024.
- Targeting an initial origination pipeline of approximately 400MWh storage capacity.
Scott Poulter, Pacific Green’s Chief Executive, emphasized the company’s commitment to rolling out next-generation battery energy parks at scale and speed. Poulter highlighted the company’s unique combination of technology, project development expertise, and project finance capabilities, along with strong partnerships in the BESS supply chain. The focus for 2024 is on building a robust pipeline, a skilled team, and international relationships to contribute significantly to the growth of the battery storage sector.
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 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 commercialized 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