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
Karbon-X Secures Technical Advisory Engagement for Nature-Based Carbon Project in Libya22.7.2026 15:00:00 CEST | Press release
Initial engagement expands the Company's international project development portfolio through technical advisory services supporting the design and optimization of a proposed nature-based carbon project. CALGARY, AB / ACCESS Newswire / July 22, 2026 / Karbon-X Corp. (OTCQB:KARX) ("Karbon-X" or the "Company"), a vertically integrated climate solutions company operating across global carbon markets and climate infrastructure, today announced that it has been engaged by Stream Pro Ltd, a subsidiary of Oilinvest to provide technical advisory services supporting the design and value optimization of a proposed nature-based carbon project in Libya. The engagement represents another step in Karbon-X's international project development strategy and further demonstrates the Company's expertise in the design and development of high-integrity carbon projects across emerging markets. Under the initial scope of work, Karbon-X will provide end-to-end technical support for the project's carbon design,
U.S. Polo Assn. Sponsors the 2026 St. Regis British Open Polo Championship for the Cowdray Gold Cup as Official Apparel Partner22.7.2026 13:00:00 CEST | Press release
Gaston Polo Team Claims Gold Cup Title Over Dubai Polo Team at Cowdray Park Polo Club WEST PALM BEACH, FL AND WINDSOR, UK / ACCESS Newswire / July 22, 2026 / U.S. Polo Assn.® in partnership with Brand Machine Group (BMG), its partner in the United Kingdom, proudly continued its long-standing support of the British high-goal season as the Official Apparel Partner of the 2026 St. Regis British Open Polo Championship for the Cowdray Gold Cup, held June 23 through July 19 at Cowdray Park Polo Club, known widely as "The Home of British Polo." 1) 2026 St. Regis British Open Polo Championship for the Cowdray Gold Cup Winners, Gaston Polo Team, accepting trophy on stage at Cowdray Park Polo Club 2) Gaston Polo Team attacking the ball against Dubai Polo Team in the 2026 St. Regis British Open Polo Championship for the Cowdray Gold Cup Final 3) The British Ladies Open Championship Finalists, Yaguara and Salty Polo, on stage at Cowdray Park Polo Club 4) U.S. Polo Assn.'s Experiential Merchandise
House of Hope in Bamako Continues to Provide Vital Support for Vulnerable Women in Mali in 202622.7.2026 11:00:00 CEST | Press release
BUDAPEST, HUNGARY / ACCESS Newswire / July 22, 2026 / The Gedeon Richter House of Hope centre in Bamako, Mali, continued to provide comprehensive support for vulnerable women and girls during the first half of 2026, delivering healthcare, protection, counselling, education and vocational training through its integrated programme. In the first six months of is year, nearly 50 women have been provided assistance in the center. Established through the cooperation of Gedeon Richter, the Hungary-based Close to Africa Foundation, and local partner Sini Sanuman Foundation, the House of Hope opened at the beginning of 2025 to offer shelter, gynaecological care, psychosocial and legal support, as well as educational and skills-development opportunities to women affected by violence and harmful traditional practices. Since opening its doors, the centre has supported well over a hundred women, while community outreach and awareness-raising activities have reached many more across Bamako and surro
Fermi Announces First Siemens Turbines Arrive at Port of Houston21.7.2026 22:30:00 CEST | Press release
Arrival marks an important milestone in the development of Fermi's Project Matador SGT6-5000F natural gas turbines will anchor what is expected to be the nation's largest combined-cycle natural gas project DALLAS, TX / ACCESS Newswire / July 21, 2026 / Fermi Inc. (NASDAQ:FRMI)(LSE:FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today announced the arrival of three Siemens Energy SGT6-5000F natural gas turbines at the Port of Houston. Together, the three turbines are rated at up to 780 megawatts in simple-cycle mode. They are bound for Fermi's Project Matador, an advanced energy and AI campus near Amarillo, Texas. This marks one of the project's largest single power-equipment moves, and it keeps Fermi well ahead of competitors in bringing gigawatt-scale power online. The delivery is the latest in a fast run of milestones. Over the past couple of weeks, Fermi selected TSK, Spain's largest power-focused EPC firm, for early works on its phase-two turbines and brought in Prim
GA-ASI and MBDA Commit to Weapons Collaboration21.7.2026 16:00:00 CEST | Press release
Companies Will Integrate SPEAR Onto MQ-9B and Gambit 6 SAN DIEGO, CA / ACCESS Newswire / July 21, 2026 / General Atomics Aeronautical Systems, Inc. (GA-ASI) and MBDA have announced a commitment to integrate the European missile-maker's SPEAR precision strike weapons onto new aircraft built by the American uncrewed aircraft manufacturer. GA-ASI President David R. Alexander and MBDA UK Managing Director Chris Allam signed a memorandum of understanding that outlined the agreement at the Farnborough International Airshow 2026. The companies will work together to ensure the MQ-9B remotely piloted aircraft and Gambit 6 collaborative combat aircraft (CCA) can carry and use the SPEAR weapons. "We've built an excellent business relationship with MBDA as part of the integration of the Brimstone missile onto the UK's Protector," said Mr. Alexander. "So, working with MBDA to enable SPEAR on our broader MQ-9B line, and our Gambit CCA, feels like a very natural extension of our partnership." Protect
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