Pacific Green Technologies has finalised an agreement to sell a 250MW Australian battery energy storage system to Intera Renewables for A$460m ($293m).
The Limestone Coast North energy park, which is expected to commence commercial operations in early 2027, represents a significant development in South Australia’s renewable energy infrastructure.
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The energy park, with a capacity of 250MW/500 megawatt hours (MWh), is one of two such projects Pacific Green is developing in the region.
The company has signed binding documentation to transfer 100% ownership of the park to Intera, a renewable energy platform backed by Palisade Investment Partners.
Pacific Green will oversee the construction phase until the park reaches commercial operations.
Palisade Integrated Management Services will then assume asset management responsibilities on behalf of Intera.
The sale marks the beginning of Pacific Green’s ambitious plan to deploy a 10 gigawatt hours (GWh) pipeline of battery energy parks across Australia.
The company is also progressing with grid approvals for the Limestone Coast West project, another 250MW/1000MWh development, with construction to begin in September 2025.
Pacific Green is also finalising development approval for the Portland Energy Park in Victoria, which will feature four co-located battery assets totalling 100MW/2500MWh, with construction to commence in March 2026.
In a strategic move to expand its footprint, Pacific Green announced in November 2024 the acquisition of land rights in Wagga Wagga, New South Wales, for its inaugural project in the state.
Pacific Green Technologies chief executive Scott Poulter stated: “We are delighted to have entered this agreement with Palisade, one of Australia’s leading infrastructure fund managers.
“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.”
In July 2024, Pacific Green obtained planning approval from the South Australian government for its first two large-scale battery energy parks on the Limestone Coast.
