Pacific Green Technologies aims to deploy more than 12 GWh of battery energy storage capacity across four global markets. The developer is targeting a minimum of 1 GWh of capacity in each market it enters.
The company expanded its pipeline to 6 GWh in 2023, establishing a strong foothold in the Italian and Australian energy storage markets.
Going forward, Australia and Italy will remain hotspots for significant further pipeline expansion, Pacific Green said. The company will also recharge its origination portfolio in the maturing UK market, in addition to taking its first steps into the nascent Polish market.
“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,” said Scott Poulter, Pacific Green’s chief executive.
Specifically, Pacific Green plans to more than double its greenfield origination pipeline in Australia to more than 6 GWh, after securing land exclusivity agreements for two major battery energy storage system (BESS) projects in Australia, with 3 GWh of storage capacity last year.
Pacific Green’s Australian team is targeting financial close on its first 500 MWh 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 Italy from Sphera Energy in 2023, totaling 2.8 GWh capacity, Pacific Green’s team in Italy is targeting financial close on its first 1.5 GWh of storage capacity this year, ahead of the start of commercial operations in 2026.
It also aims to further expand its Italian portfolio to almost 5 GWh in total.
In the United Kingdom, the company’s recent strategic milestones have included commissioning the 99.8 MWh Richborough Energy Park, achieving financial close at neighboring 373.5 MWh 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 the Sosteneo energy transition fund.
pv magazine print edition
The February edition of pv magazine, out tomorrow, considers the ramifications of Dubai’s COP28 climate change summit for solar and asks where the workers will come from to staff the energy transition. A busy edition also ranges as far afield as Bulgaria, the South Caucasus, Cyprus, South Africa, Poland, and Navajo Nation in search of solar updates.
In addition, Pacific Green plans to enter the Polish market this year, targeting an initial origination pipeline of approximately 400 MWh storage capacity.
“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,” said Poulter.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.