Welcome to our dedicated page for Pacific Green Technologies news (Ticker: PGTK), a resource for investors and traders seeking the latest updates and insights on Pacific Green Technologies stock.
Pacific Green Technologies, Inc. (PGTK), referred to as Pacific Green in its announcements, regularly publishes news about its activities as a global battery energy storage and environmental technology company. Its releases focus on the development, financing and sale of grid-scale battery energy storage systems (BESS) and related environmental technologies that support cleaner and more sustainable energy.
Recent news has highlighted Pacific Green’s Australian portfolio, including planning consents and permits for large battery energy parks in the Limestone Coast region of South Australia and in Portland, Victoria. Updates describe multi‑hundred megawatt and multi‑gigawatt‑hour projects intended to strengthen grid stability, support net‑zero and decarbonisation objectives and integrate renewable energy into the National Electricity Market.
Investors and observers following PGTK news can read about commercial arrangements such as tolling and offtake agreements, capacity revenue swap frameworks and debt facilities that the company reports for its Australian BESS pipeline. Announcements include agreements with counterparties such as ZEN Energy and Re2 Capital, and a syndicated facility with Longreach Credit Investors and Australian Philanthropic Services Foundation, all framed as supporting the development of multi‑gigawatt‑hour storage pipelines.
Other news items cover project sales, such as the sale of the Limestone Coast North Energy Park to Intera Renewables, and Pacific Green’s continued role as construction manager and supply chain coordinator. The company also issues updates on accounting policy changes related to its battery energy storage system developments. This news page helps readers track Pacific Green’s disclosed milestones in project development, financing, regulatory approvals and corporate reporting.
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Pacific Green Technologies (OTCQB:PGTK) has acquired Sheaf Energy Limited for £7.5 million (US$9.1 million). The Sheaf Energy Park will feature a 249 MW / 373.5 MWh battery energy storage system in Kent, UK, with operations starting in April 2025. This development adds to Pacific Green's ongoing project pipeline, following their Richborough Energy Park set to connect to the grid in Q2 2023. The company's leadership emphasizes their commitment to advancing large-scale energy projects that support the UK's Net Zero transition.
Pacific Green Technologies has appointed Alexander Shead as an Independent Director, effective October 16, 2022. Shead previously served as Executive Director from 2016 to 2020 and has extensive experience in the insurance industry, currently chairing Lockton Pacific. He is also the founder of the NGO Food Ladder, focusing on sustainable food security. Pacific Green continues to develop clean energy solutions, including Battery Energy Storage Systems (BESS), Concentrated Solar Power (CSP), and Photovoltaic (PV) technologies, aiming for sustainable energy innovation.
Pacific Green Technologies (OTCQB:PGTK) has successfully achieved financial close for £28.25 million (approximately US$34.90 million) in senior debt to fund its 99.98 MW battery energy storage system (BESS) at Richborough Energy Park. The funding will enable the project to commence commercial operations by June 2023. The agreement with Close Leasing Limited will provide a development loan that will be converted into a 10-year term loan upon operations start. This marks a pivotal development in the company's ambition to lead in renewable energy solutions.
Pacific Green Technologies, Inc. (OTCQB:PGTK) has announced an agreement with Shell Energy Europe Limited to provide dispatch trading and optimization services for its 99.98 MW Richborough Energy Park battery energy storage system in Kent, England. Under this agreement, Pacific Green will manage the construction and operation of the BESS, while Shell will purchase the capacity and handle optimization for the next ten years. This partnership aims to support the UK's transition to a low carbon energy system.
Pacific Green Technologies (OTCQB:PGTK) announces a Principal Contractor Agreement with Instalcom Limited for a 99.98 MW battery energy storage system at Richborough Energy Park, Kent, starting construction in July 2022. The contract enhances Pacific Green's commitment to scaling its energy park projects to 1.1 GW. An Operations and Maintenance Agreement follows, commencing with commercial operations in June 2023. The collaboration aims to contribute to the UK's Net Zero Strategy, leveraging Instalcom's 30 years of energy infrastructure experience.