Pacific Green Acquires Five Battery Energy Storage Developments in Italy

Source: www.gulfoilandgas.com 11/16/2023, Location: Europe

Pacific Green Battery Energy Park (Italia) Srl, a wholly-owned subsidiary of Pacific Green Technologies, Inc. (the "Company" or "Pacific Green", announces that it has acquired 51% of the shares in five Italian projects (the “Projects”) from Sphera Energy Srl. The remaining 49% of the shares of each Project will be acquired on achievement of certain development milestones.

The first 100MW battery energy storage system (“BESS”) project in Campania has been submitted to The Ministry of Environment and Energy Security for permitting and the remaining four will be finalized in the coming months. Final permitting for all five projects is anticipated in Q4 2024, with design and construction to be managed by Pacific Green. The projects will begin their 35 year operating life in late 2025.

Mahael Fedele, Sphera Energy’s Partner & CEO, said: “Following our launch 12 months ago as one of Italy’s first fully dedicated battery storage development platforms, we are thrilled to enter into this partnership with Pacific Green to deliver high quality projects in the rapidly growing Italian energy storage market”

Scott Poulter, Pacific Green’s Chief Executive, added: “Building upon our success with the development and sale of Pacific Green’s 100MWh Richborough Energy Park and the development of the 375MWh Sheaf Energy in the UK, Italy represents the next step in Pacific Green’s European expansion into other markets where battery assets will be key in enabling National and EU Net-Zero targets. In Italy, where market conditions favor longer duration projects, we expect this portfolio to have an energy capacity of between two to three gigawatt hours.


South Korea >>  11/1/2024 - - Completed the merger process with SK E&S over the past three months, officially launching a merged entity with assets totaling KRW 105 trillion
...

United States >>  11/1/2024 - AM Batteries, the leader in dry battery-electrode (DBE) technology, has been recognized in TIME Magazine's list of the Best Inventions of 2024. The co...

Canada >>  10/31/2024 - Phenom Resources Corp. ("Phenom" or the "Company") is pleased to announce that the private Japanese battery company, MK Plus Co., Ltd. (MK Plus) has a...
Canada >>  10/31/2024 - Asahi Kasei Corporation (Asahi Kasei) and Honda Motor Co., Ltd. (Honda) announced that the two companies have signed a shareholders’ agreement to conv...

Canada >>  10/31/2024 - 18650 batteries with GEN3 silicon-based materials deliver unmatched capacity and durability [1], providing 3,301 milliampere-hours (mAh) of capacity w...
Canada >>  10/31/2024 - FCL has signed its first master distribution agreement to market FCL-X™ within the USA with AEST Fire and Safety, a USA based fire safety products dis...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.