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
Chervon Appoints Stephen Sarnocinski to President - End User Research, Sales and Service - OPE Commercial Landscaping Market Global21.10.2026 16:00:00 CEST | Press release
NAPERVILLE, IL / ACCESS Newswire / October 21, 2026 / Stephen (Sarno) Sarnocinski is named President - End User Research, Sales and Service - OPE Commercial Landscaping Market Global, effective October 20, 2026, reporting to Joe Galli, CEO. Sarnocinski brings 21+ years of extraordinary experience, performance and leadership to Chervon. He is a high-potential senior executive with an exciting future ahead at Chervon. Sarno will now assume a new role at Chervon focused on pioneering and developing the OPE Commercial Landscaper User Vertical. Sarno was most recently a Senior Vice President - Job Site Solutions for TTI/Milwaukee, leading the Utility, Energy, Communications and Mining Verticals. Over the past 10 years he has held increasingly responsible JSS positions in the Eastern USA. Before his JSS role, he was responsible for Milwaukee East Coast Service Operations. He started his TTI/Milwaukee career rising through a series of store coverage and territory management positions. Before
DataTracks Launches Nova, Filing Software that Takes UK Micro-Entities Through HMRC and Companies House on One Set of Figures21.10.2026 15:45:00 CEST | Press release
LONDON, UK / ACCESS Newswire / October 21, 2026 / DataTracks, the regulatory reporting software and services provider, has launched DataTracks Nova, software that prepares a UK micro-entity's accounts and Corporation Tax return from a single set of figures, produces the iXBRL that HMRC requires now and Companies House will require from 1 April 2028, and files the CT600 with HMRC. Companies House accounts filing runs from the same data in the same product. Until 31 March 2026, many smaller UK companies with straightforward affairs had a free way to do this themselves. CATO (Company Accounts and Tax Online) was a free HMRC online service, run jointly with Companies House, that let a company prepare and submit its own Corporation Tax return and accounts through a simple web form, with no software to buy and no accountant needed. It was only open to companies filing without an agent. HMRC closed it on 31 March 2026. Since 1 April 2026, companies have generally had to use commercial softwar
Fermi Provides Letter to Shareholders from CEO Lee McIntire on Financing Fermi's Next Chapter21.10.2026 14:30:00 CEST | Press release
DALLAS, TX / ACCESS Newswire / October 21, 2026 / Fermi Inc. (NASDAQ:FRMI)(LSE:FRMI), operating as Fermi America™ ("Fermi" or the "Company") today provided the following letter to shareholders from CEO Lee McIntire: Dear Fellow Shareholders, We are living through an extraordinary moment in the development of American infrastructure. As artificial intelligence reshapes industries and economies, reliable power has become one of the most strategically important and sought-after assets in the world. Fermi was founded with this opportunity in mind. At Fermi's Project Matador, we are pursuing one of the most ambitious power and infrastructure developments in the country, designed to deliver the scale and reliability required by the next generation of computing. Throughout my decades in global infrastructure and construction, I have learned that creating a successful infrastructure business requires more than assembling valuable assets. It requires judgment and financial discipline to turn th
PFN and Tenstorrent Selected for NEDO Project on "xPU Design and Development Incorporating Photonics Electronics Integration Technology"21.10.2026 14:00:00 CEST | Press release
TOKYO, JP / ACCESS Newswire / October 21, 2026 / Preferred Networks, Inc. (PFN) and Tenstorrent USA, Inc. (Tenstorrent) have announced today that their joint proposal has been selected by Japan's New Energy and Industrial Technology Development Organization (NEDO) for the theme "xPU Design and Development Incorporating Photonics-Electronics Integration Technology" (*1) under the NEDO-sponsored "Research and Development Project of the Enhanced Infrastructures for Post-5G Information and Communication Systems / Development of manufacturing technologies for advanced semiconductors." AI models and workloads continue to increase in size and computational complexity, and are being adopted across a wide range of industries. This rapid growth has further increased the compute needed for model training and inference, driving demand for more scalable and efficient AI infrastructure. Through a joint research and development project, PFN and Tenstorrent aim to develop a system-level integration of
Polaris Renewable Energy Awards Key Supply Contract and Issues Notice to Proceed on Punta Lima Battery Storage Investment20.10.2026 23:10:00 CEST | Press release
TORONTO, ON / ACCESS Newswire / October 20, 2026 / Polaris Renewable Energy Inc. (TSX:PIF) ("Polaris" or the "Company") is pleased to announce that it has awarded and executed a contract with Trina Energy Storage Solutions (Singapore) Pte. Ltd. ("Trina Storage") for the supply of battery energy storage systems ("BESS") for the Company's Punta Lima project in Puerto Rico. Trina Storage is a global utility-scale energy storage provider with 30 GWh of BESS projects commissioned and under execution worldwide, including more than 6 GWh across Latin America and the Caribbean. The Punta Lima BESS project is being advanced under Puerto Rico's Accelerated Storage Addition Program ("ASAP"), a strategic initiative designed to strengthen grid reliability through the deployment of utility-scale battery energy storage systems co-located with existing generation facilities. As background, on June 5, 2026, Polaris Power US, Inc. ("PPUS") fully executed the BESS Standard Offer Agreement (the "SO1 Agree
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