Pacific Green Technologies Inc.
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
Clean Air Metals Announces Appointment of John Mason as Director15.9.2025 13:00:00 CEST | Press release
THUNDER BAY, ON / ACCESS Newswire / September 15, 2025 / Clean Air Metals Inc. ("Clean Air Metals" or the "Company") (TSX.V:AIR)(FRA:CKU)(OTCQB: CLRMF) is pleased to announce the appointment of John Mason, D.Sc., P.Geo., as Director of the Company effective immediately. John Mason is a professional geoscientist with 49 years of experience in mineral exploration and mining in Northern Ontario. Mr. Mason's work experience includes management positions with the Ontario Ministry of Northern Development and Mines (NDMNRF) and Thunder Bay Community Economic Development Commission, before starting John Mason and Associates. John Mason has worked with all mines and major exploration projects in Northwestern Ontario, specific to supply and service, workforce, energy, and transportation access needs. John has worked with many of the indigenous communities, MNO and municipalities to maximize economic development opportunities related to exploration and mining and balance environmental/ESG require
Honoring Innovation, Excellence, and Leadership at the 2025 APEX/IFSA Awards: APEX Honored Aviation's Industry Trailblazers and Visionaries12.9.2025 08:00:00 CEST | Press release
WASHINGTON, D.C. / ACCESS Newswire / September 12, 2025 / Airlines and suppliers were celebrated for their meaningful advancements in passenger experience at the prestigious APEX/IFSA Awards Ceremony in Long Beach, California. Hosted by the APEX (Airline Passenger Experience Association) and the IFSA (International Flight Services Association) during the APEX/IFSA Global EXPO, the ceremony is regarded as the industry's premier awards event, recognizing innovation, dedication, and leadership that set new standards for excellence across the skies.APEX IFSA "What sets the APEX/IFSA Awards apart comes from how our awards program moves beyond recognition; it actively drives excellence across our entire industry," APEX/IFSA Group CEO Dr. Joe Leader stated. "Unlike other award platforms, these honors reflect both the voices of millions of global passengers and the rigorous assessments of independent experts. This powerful combination establishes the APEX/IFSA Awards as the most trusted and im
Among Migrating Nurses, Survey Shows High Satisfaction Rates for Those Who Use a Certified Ethical Recruiter11.9.2025 21:30:00 CEST | Press release
PHILADELPHIA, PA / ACCESS Newswire / September 11, 2025 / In a new survey, foreign-educated nurses and other healthcare professionals who migrate to work in the United States continue to give high marks to recruitment firms that are certified by the Alliance for Ethical International Recruitment Practices.TruMerit Ethical International Recruitment Report How certification helps safeguard the rights of foreign-educated health professionals. The Alliance, a division of TruMerit (formerly CGFNS International), in 2024 surveyed more than 8,000 foreign-educated health professionals who had used one of its 19 Certified Ethical Recruiters (CERs). Ninety percent of respondents indicated they had an overall positive experience with their recruiter, with 55% reporting it was very positive. As the survey report shows, the high satisfaction rate essentially held steady from 2023 despite persisting delays and increased costs in the U.S. immigration process. In an earlier TruMerit/CGFNS survey of it
Raven Resources Reports Strong First-Year Results Following Grove Electric Acquisition11.9.2025 15:00:00 CEST | Press release
GROVE, OKLAHOMA / ACCESS Newswire / September 11, 2025 / Raven Resources today announced robust first-year financial results following its acquisition of Grove Electric, a leading electrical contracting and services company based in Grove, Oklahoma. For the fiscal year ending August 31, 2025, Grove Electric achieved a 30% increase in revenues compared to the prior year. The September 2024 acquisition was a strategic move to expand Raven Resources' portfolio of service-oriented businesses in fast-growing regional markets. The strong results highlight both the successful integration of Grove Electric and the sustained demand for high-quality electrical contracting services across Northeast Oklahoma. "We are extremely pleased with Grove Electric's first year under Raven Resources," said Paul Scribner, CEO of Raven Resources. "The growth we've seen is a testament to the dedication of Grove Electric's team and the company's reputation for reliable, professional service. This performance rei
Richmond Terrace Capital Secures €900 Million from European Pension Leaders11.9.2025 12:30:00 CEST | Press release
CITY OF LONDON, GB / ACCESS Newswire / September 11, 2025 / Richmond Terrace Capital, a leading London-based investment management company, is pleased to announce that a consortium of leading European pension funds has awarded the firm new discretionary mandates totaling approximately €900 million, with an additional €1.5 billion in commitments scheduled for early 2026. Through these mandates, Richmond Terrace Capital will provide end-to-end portfolio management and strategic investment guidance, designed to deliver consistent value in line with each client's investment objectives. Record Momentum Powered by Strategic Growth This landmark development caps one of Richmond Terrace Capital's strongest years to date, driven by the exceptional performance of its flagship funds and private equity platforms. Investment success has been particularly evident in transformative sectors such as Commercial Space Ventures, Advanced Connectivity Infrastructure, and Artificial Intelligence application
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