Strategic Acquisition and Development Milestones
Pacific Green Battery Energy Park (Italia) Srl, a subsidiary of Pacific Green Technologies, Inc., has acquired 51% of shares in five Italian battery energy storage projects totaling 500MW/2,800MWh from Sphera Energy Srl. The remaining 49% will be acquired upon reaching specific development milestones.
Project Timeline and Expansion into Italian Market
The first 100MW battery energy storage system (BESS) project in Campania has been submitted for permitting, with the four additional projects nearing completion. All five projects are expected to receive final permits in Q4 2024, and Pacific Green will oversee the design and construction, targeting operation commencement in late 2025. Scott Poulter, Pacific Green’s CEO, highlights Italy as a strategic market for longer-duration projects, anticipating the portfolio’s energy capacity to range between two to three gigawatt hours.
Pacific Green’s Vision for Sustainable Energy
Scott Poulter emphasizes Pacific Green’s commitment to cleaner and more sustainable energy solutions, citing the success of previous projects like the 100MWh Richborough Energy Park and the 375MWh Sheaf Energy in the UK. The company’s expansion into Italy aligns with its broader mission to support National and EU Net-Zero targets through the deployment of battery assets.
Source：koreabizwire.com
