Pacific Green, the UK-based global energy storage company, has now completed its sale of the battery energy storage system (BESS) project it is developing to the renewable energy platform company Intera Renewables in a deal valued at $293 million (460 million AUD).
The 250MW/500MWh BESS at Limestone Coast North Battery Park will now be transferred in ownership to Intera, which is established and owned by Australia based asset manager Palisade Investment Partners, it said.
The plant contractor, Gransolar Group, are said to begin construction this month, with commercial operations estimated for February 2027.
The BESS itself will be supplied by Trina Storage, it said.
For now, Pacific Green will remain as construction manager of the site, which it said will include supply chain management.
The Limestone Coast North energy park is the first of the company’s 10GWh Australian project pipeline to reach financial close, it said.
It is co-located with another BESS project in the southeast of Australia.
Joel Alexander, CEO and managing director, Pacific Green Australia, said: “I am delighted this transaction has reached Financial Close. The relative speed in which we’ve got to this point is testament to our market leading development model but also to the two teams involved; our own and our counterparts at Intera and Palisade. I am truly thrilled to commence construction and deliver one of South Australia’s largest energy parks.”
Simon Parbery, executive director, Palisade, said: “We are delighted to achieve this significant milestone for Intera, and look forward to partnering with Pacific Green in delivering this key project through to commissioning and operations, providing both sustainable long-term returns to Intera’s investors and supporting Australia’s energy de-carbonation ambitions.”
