Pacific Green Offloads 99-MW UK BESS

• Pacific Green Technologies Inc. has announced a GBP 74 million deal for a 99-MW battery energy storage system (BESS) in Richborough Energy Park, Kent, England. Senior debt and equity secured for the project; completion expected within weeks. Move part of a 1.1-GW BESS project pipeline in the UK.

Pacific Green Technologies Inc. announced a deal to offload a 99-MW battery energy storage system (BESS) located in Richborough Energy Park, Kent, England. The purchase price of GBP 74 million (USD 93.3m/EUR 86.5m) is to be paid upon the completion of certain operational milestones related to the battery park’s grid connection and commissioning. The vendor will receive an advance payment of GBP 20 million. The deal is expected to be finalized over the next few weeks. Pacific Green has secured senior debt and equity for the project and is working to develop a 1.1-GW BESS project pipeline in the UK.

What Is Pacific Green's 1.1-GW BESS Project Pipeline?

• Pacific Green has secured a deal to offload a 99-MW battery energy storage system (BESS) located in Richborough Energy Park, Kent, England.
• The purchase price of GBP 74 million (USD 93.3m/EUR 86.5m) is to be paid upon completion of operational milestones related to the battery park’s grid connection and commissioning.
• Pacific Green has secured senior debt and equity for the project and is working to develop a 1.1-GW BESS project pipeline in the UK.
• The vendor will receive an advance payment of GBP 20 million and the deal is expected to be finalized over the next few weeks.
• Pacific Green has identified over 4.6 GW of potential projects in the UK and is currently in discussions with several developers, utilities and private investors across the country.
• The 1.1 GW BESS project pipeline includes a mix of large-scale projects ranging from 50 MW up to 200 MW, with multiple build-outs planned for 2021 and 2022. 
• Pacific Green is also looking to implement projects in other regions across Europe and Asia, with plans to enter the US market in the near future.