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Pacific Green Announces Sale of Sheaf Energy Park Battery Development for £210 Million (US$258 Million)

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Pacific Green Announces Sale of Sheaf Energy Park Battery Development

Pacific Green Technologies, Inc. has entered into a transaction to sell its subsidiary, Pacific Green Battery Energy Parks 2 Limited (PGBEP2), to Sosteneo Fund 1 HoldCo S.à.r.l. for £210 million (US$258 million). PGBEP2 is the holding company for Sheaf Energy Limited, which operates the 249 MW / 373.5 MWh battery energy storage system in Kent, England. The Sheaf Energy Park is set to commence commercial operations in July 2025.

Transaction Details and Capital Expenditure Loan

Under the terms of the transaction, Pacific Green and Sosteneo have granted each other options to buy or sell the shares in PGBEP2. Additionally, Sosteneo will provide a capital expenditure loan to fully fund the development and construction of Sheaf Energy Park, in addition to the senior debt facility.

About Pacific Green Technologies, Inc.

Pacific Green is dedicated to addressing the world's need for cleaner and more sustainable energy solutions. The company offers Battery Energy Storage Systems and Concentrated Solar Power, alongside its environmental technologies division. With offices across the globe, Pacific Green aims to contribute to a greener future. In conclusion, the sale of the Sheaf Energy Park battery development marks a significant step for Pacific Green Technologies. The transaction with Sosteneo Fund 1 HoldCo will enable the continued development of the energy storage system, supporting Pacific Green's commitment to cleaner and more sustainable energy solutions.

Pacific Green's Sale of Sheaf Energy Park: A Hot Take on Its Impact on New Businesses

The recent announcement by Pacific Green Technologies, Inc. about the sale of its Sheaf Energy Park battery development to Sosteneo Fund 1 HoldCo S.à.r.l. could potentially have significant implications for new businesses in the energy sector.

Investment Opportunities and Market Dynamics

The transaction, valued at £210 million (US$258 million), not only underscores the increasing value and market demand for sustainable energy solutions but also highlights the lucrative investment opportunities in the sector. New businesses looking to enter the energy market may find this development encouraging, signaling a positive market response to clean energy initiatives.

Financing and Development Strategies

The terms of the transaction, which include a capital expenditure loan from Sosteneo to fund the development and construction of Sheaf Energy Park, provide a blueprint for new businesses on strategic financing and development partnerships.
Commitment to Sustainable Energy
Pacific Green's commitment to cleaner and more sustainable energy solutions, as evidenced by this transaction, sets a standard for new businesses. It emphasizes the importance of aligning business strategies with global sustainability goals. In conclusion, Pacific Green's sale of the Sheaf Energy Park battery development is a significant development in the energy sector. It offers valuable insights and lessons for new businesses, particularly in terms of market dynamics, financing strategies, and commitment to sustainability.
Story First Published at: https://financialpost.com/globe-newswire/pacific-green-enters-into-transaction-to-sell-its-249mw-373-5mwh-sheaf-energy-park-battery-development-for-an-enterprise-value-of-210-million-us258-million
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