Pacific Green Technologies has agreed to sell its 250MW/500MWh Limestone Coast North Energy Park battery energy storage system (BESS) in South Australia to Intera Renewables in a deal worth AU$460 million (US$293 million).
Intera is a renewable energy platform that is majority owned by funds managed by Palisade Investment Partners, an infrastructure and real assets manager based in Australia.
Two grid-scale BESS assets will form part of US-headquartered energy storage developer Pacific Green’s wider Limestone Coast Energy Park development, which will comprise 500MW/1.5GWh of BESS combined. This includes the Limestone Coast North Energy Park BESS, a 500MWh system, and the Limestone Coast West BESS, a 250MW/1,000MWh 4-hour duration system.
The park will be developed and constructed in two phases over a 36-month period. The first phase, the Limestone Coast North Energy Park BESS, is anticipated to be operational in 2027.
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Pacific Green had previously said the ‘Energy Park’ would be capable of storing almost 60% of South Australia’s residential solar output for up to four hours.
Previous coverage by Energy-Storage.news revealed that the site is “strategically located” in the Limestone Coast region, close to the border of neighbouring state Victoria. An existing 275kVA substation is available to connect directly to it, 10km outside of Mount Gambier.
As part of the transaction, Pacific Green will oversee the construction of the project until it becomes operational. Once this phase is complete, Palisade Integrated Management Services (PIMS) will take on asset management responsibilities in its role as Intera’s asset manager.
Joel Alexander, Pacific Green Australia Managing Director and CEO, said the deal marks a significant milestone for Pacific Green Technologies’ Australian business.
“This underscores our focus on assets that represent clear commercial feasibility and deliver net zero objectives for Australia. The backing of Palisade, a leading global infrastructure and real assets manager, will accelerate the build-out of the Limestone Coast North Energy Park and ensure it reaches the operational stage by early 2027,” said Alexander.
Pacific Green Technologies Australian portfolio
The Limestone Coast Energy Park marks the first set of assets of an 8.5GWh development pipeline that Pacific Green is rolling out across Australia, a market it first entered in October 2023.
Through a local subsidiary, it brokered agreements with undisclosed parties to secure land sites to develop large-scale BESS assets in Portland, a city in the Australian state of Victoria. The company claimed this would entail the development of 1GW/2.5GWh of Energy Parks.
Last year, the company applied for approval under the Australian government’s Environment Protection and Biodiversity Conservation (EPBC) Act for its 1GW/2.5GWh Portland BESS in Victoria, another energy park.
Pacific Green also secured a “strategic parcel of land” in Wagga Wagga, located near TransGrid’s existing Wagga 330kV substation, in December last year. The company said at the time that it hopes to develop one of its energy parks in this location, citing its “strategic importance to the national grid,” via its participation in the National Electricity Market (NEM).
