Pacific Green Technologies Inc.
21.9.2021 15:02:25 CEST | ACCESS Newswire | Press release
DOVER, DE / ACCESSWIRE / September 21, 2021 / Pacific Green Technologies, Inc. (the "Company" or "PGTK", (OTCQB:PGTK)) announces that it has signed an offer letter from Close Leasing Limited ("CLL"), wherein CLL will provide debt financing of £23 million (US$31.6 million) for the construction of a 99.8 MW battery energy storage system ("BESS") the Company is developing in Kent, England.
The BESS development, which is located at Richborough Energy Park, will be developed through the Company's wholly-owned subsidiary, Pacific Green Energy Storage (UK) Limited. The financing, which is subject to final due diligence, is expected to reach Financial Close in Q4 2021. Energization of the energy storage park is on schedule for 2022.
Scott Poulter, PGTK's Chief Executive commented: "We are very proud to be working with Close Brothers, following numerous offers from very competitive financiers, our decision was based upon the combination of Close Brothers' flexibility along with their previous experience financing renewable energy projects of a similar size. We are excited to work with Close Brothers on the first project in our pipeline of 1.1GW and look forward to progressing this initial project into the construction phase and operation."
James Sutcliffe, Managing Director of Close Brothers Leasing's Energy team, commented: "The battery storage sector is experiencing significant growth and is playing an important part in our strategy of expanding our renewable energy portfolio. We are delighted to be involved in this project and are really looking forward to working with Pacific Green through the various phases to completion."
CLL is a market leader in providing specialist, structured finance solutions ranging in value from £250,000 to £50 million, particularly working with select, strategic partners to offer finance solutions in the renewable energy sector. CLL is part of Close Brothers Group plc.("CBG").
About Pacific Green Technologies, Inc.
Pacific Green Technologies Inc. is focused on addressing the world's need for cleaner and more sustainable energy. The Company offers Battery Energy Storage System (BESS), CSP and PV energy solutions to complement its marine environmental technologies and emissions control divisions.
For more information, visit PGTK's website:
www.pacificgreentechnologies.com
About CBG
CBG is a leading UK merchant banking group, providing lending, deposit taking, wealth management services and securities trading. CBG employs over 3,700 people, principally in the UK. CBG is listed on the London Stock Exchange (LON: CBG) and is a member of the FTSE 250.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the ongoing effects of the pandemic on delays and orders regarding Pacific Green's emission control system, potential business developments in the UK and future interest in our solar and desalination technologies.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic and political conditions, the continuation of the financing offer from CLL, and the ongoing impact of the COVID-19 pandemic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659
SOURCE: Pacific Green Technologies, Inc.
View source version on accesswire.com:
https://www.accesswire.com/664931/Pacific-Green-Signs-Offer-for-Debt-Finance-for-Its-First-Battery-Energy-Storage-Development-at-Richborough-Energy-Park
To view this piece of content from www.accesswire.com, please give your consent at the top of this page.
About ACCESS Newswire
Subscribe to releases from ACCESS Newswire
Subscribe to all the latest releases from ACCESS Newswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from ACCESS Newswire
GA-ASI Mojave First UAS To Complete Battlefield Short Field Ops16.9.2026 19:30:00 CEST | Press release
Short Takeoff and Landing Aircraft Validates Austere Field Capabilities SAN DIEGO, CA / ACCESS Newswire / September 16, 2026 / General Atomics Aeronautical Systems (GA-ASI) and Hanwha Aerospace have completed the first-ever flight operations from a simulated battlefield by a medium altitude, long endurance uncrewed aircraft. The partners proved that the Mojave Short Takeoff and Landing aircraft, or Mojave STOL, could land at a tank and artillery live-fire range during simulated combat conditions and then take off again to continue the mission. "This demonstration showcased Mojave's ability to perform tactical missions that are representative of real battlefield requirements and challenges," said GA-ASI CEO Linden Blue. "Whether the user needs contested and austere battlefield operations, ISR, weapons delivery, Air-Launched Effects deployment, troop resupply, counter-UAS, or missions requiring short and unimproved roads for takeoff, our aircraft answer the bell." "This demonstration mar
Freedom Holding Corp. Named General Partner of the Salesforce FIDE World Championship Match 202616.9.2026 16:13:00 CEST | Press release
Partnership builds on Freedom's long-term support for international chess as Geneva prepares to host the historic Gukesh - Sindarov title match NEW YORK CITY, NY / ACCESS Newswire / September 16, 2026 / Freedom Holding Corp. (NASDAQ:FRHC) will serve as General Partner of the Salesforce FIDE World Championship Match 2026, continuing a long-standing partnership with the International Chess Federation (FIDE) spanning elite competition, education and chess development. Freedom's involvement in the 2026 World Championship follows several years of cooperation with FIDE. The company was General Partner of the 2023 World Championship Match in Astana and title sponsor of the 2024 FIDE World Rapid & Blitz Championships in New York, one of FIDE's flagship global events. It has also supported international competitions and initiatives focused on expanding access to chess, developing young talent and strengthening the wider chess ecosystem. Earlier this year, Freedom and FIDE further expanded their
Xenetic Biosciences and Santersus AG Announce Definitive Share Exchange Agreement to Create Global Leader in NET-Targeting Therapeutics16.9.2026 13:00:00 CEST | Press release
Transaction expected to create a Nasdaq-listed, multi-indication clinical-stage company focused on targeting neutrophil extracellular traps (NETs), a driver of disease across critical care, autoimmune disease, transplantation and oncology Union of two companies brings together Santersus' NucleoCapture® technology, designed to physically remove NETs from circulation, with Xenetic's DNase technology, designed to enzymatically degrade NETs in tissue Joint pipeline includes four first-in-class programs, including pivotal-stage programs in sepsis and systemic lupus erythematosus (SLE), both of which have received FDA Breakthrough Device Designation Companies to host Business Update Conference Call and Webcast Today, Wednesday, September 16th at 8:30 AM ET FRAMINGHAM, MA / ACCESS Newswire / September 16, 2026 / Xenetic Biosciences, Inc. (NASDAQ:XBIO) ("Xenetic"), a biopharmaceutical company advancing its Deoxyribonuclease ("DNase") technology, and Santersus AG ("Santersus"), a privately held
DataTracks Completes First Live GloBE Filing Cycle, Delivering Close to 500 Pillar Two Filings Across 10+ Jurisdictions16.9.2026 11:15:00 CEST | Press release
HMRC-authorised provider completes close to 500 Pillar Two filings, including more than 150 GIRs, for 160+ clients across 10+ jurisdictions WEYBRIDGE, GB / ACCESS Newswire / September 16, 2026 / DataTracks, recognised by HMRC as an authorised software provider supporting UK Pillar Two submissions, has completed its first live BEPS Pillar Two filing cycle, delivering close to 500 filings, including more than 150 GIRs, across 10+ jurisdictions for more than 160 clients. The milestone caps two decades of work in regulatory reporting. The cycle spanned GloBE Information Returns (GIR), domestic top-up tax returns under local QDMTT (Qualified Domestic Minimum Top-up Tax) regimes, UK Overseas Return Notifications (ORNs), and other jurisdiction-specific returns and notifications. Several jurisdictions in this cycle, including the Netherlands and Luxembourg, require similar notifications confirming where the GIR was filed centrally, under their own local terms. DataTracks filed each return dire
Hydrosat Unveils Osiris Constellation, The Future of Thermal Intelligence16.9.2026 08:00:00 CEST | Press release
Next-generation satellite constellation will combine high-resolution thermal imaging with broad-area coverage and daily revisit to support governments, businesses, and researchers worldwide. PARIS, FR / ACCESS Newswire / September 16, 2026 / Hydrosat, the leading provider of thermal infrared satellite data and AI-powered analytics, today announced Osiris, its next-generation Earth observation constellation designed to deliver wide-area, high resolution intelligence for water and food security, critical infrastructure, and national security missions. At the core of each Osiris satellite is Hydrosat's next-generation thermal infrared payload, developed to collect high-resolution thermal data across exceptionally wide areas. Operating across three longwave infrared bands, the payload will capture imagery at 25-meter native resolution over 160-kilometer to 340-kilometer swath widths, addressing one of Earth observation's biggest challenges between spatial detail and collection scale. This
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom