Pacific Green Technologies, the global energy storage company, has sold all its shares in a battery energy storage (BESS) project at Limestone Coast in Australia to Intera Renewables. This is a renewable energy platform majority owned by Australia-based asset manager Palisade Investment Partners, for A$460 million ($293 million).
The Limestone Coast North Energy Park, which houses a 250MW/500MWh BESS, will begin commercial operations in early 2027, it said.
The BESS is first of two energy parks being developed in Limestone Coast by Pacific Green, which it says will significantly strengthen the region’s grid stability and help further accelerate Australia’s net-zero transition.
Pacific Green will continue to manage the construction of the project through to commercial operations, as part of the sale, after which Palisade will carry out asset management activities on behalf of Intera as its asset manager.
For Pacific Green the site represents a milestone in a 10GWh development pipeline of battery energy parks in the country.
The second site in the area, Limestone Coast West, is a 250MW/1000MWh project which is finalising grid approvals and construction is expected to start in September 2025.
Scott Poulter, Pacific Green’s CEO, said: “Limestone Coast North is critical to South Australia’s Electricity network and is the first of Pacific Green’s 10GWh Australian pipeline. We are also very pleased to enter into the first of a portfolio of long-term tolling Power Purchase Agreements with Zen Energy.”
