Pacific Green Technologies, Inc. announces that Sheaf Energy Limited, a wholly-owned subsidiary of Pacific Green, has entered into an agreement with SSE Energy Supply Limited (“SSE”) wherein SSE will provide trading and optimization services for the 249 MW / 373.5 MWh Sheaf Energy Park battery energy storage system (“Sheaf Energy Park”) that Pacific Green is developing in Kent, England (the “Agreement”).
Under the terms of the Agreement, Pacific Green will be responsible for the construction, operation and maintenance of Sheaf Energy Park, while SSE will provide optimization services for a 10 year period from the start of commercial operations, which is expected in July 2025.
Scott Poulter, Pacific Green’s Chief Executive, commented: “SSE is one of the UK’s most prominent and reliable energy providers, and we are thrilled to have them trading Sheaf Energy Park for the foreseeable future. Southeast England is an extremely dynamic part of the country’s electrical grid, so partnering with an experienced operator such as SSE will be a big asset towards Sheaf Energy Park’s success.”
Gordon Bell, Managing Director of SSE Energy Markets, said: “As one of the UK’s leading electricity generators, we clearly recognize the crucial role batteries will play in providing backup to renewables. Sheaf Energy Park can be a major contributor to our energy future and we look forward to bringing SSE’s leading markets expertise to bear as we provide trading and optimization services across the next decade.”
Pacific Green recently announced that it has entered into a transaction to sell 100% of the shares in Pacific Green Battery Energy Parks 2 Limited (“PGBEP2”) to Sosteneo Fund 1 HoldCo S.à.r.l. (“Sosteneo HoldCo”). PGBEP2 is the holding company for 100% subsidiary, Sheaf Energy Limited.
Following completion of the transaction, Pacific Green will maintain responsibility for construction, operation and maintenance of Sheaf Energy Park.