Pacific Green completes sale of 99 MW Richborough BESS project for GBP74mn

Pacific Green has completed the sale of 100% of the shares in Pacific Green Battery Energy Parks 1 Limited (PGBEP1) to Sosteneo Fund 1 HoldCo S.a.r.l, an energy transition-focused fund managed by Generali Investments Luxembourg S.A. for GBP74 million (US$93.55 million).

PGBEP1 is the holding company for 100% subsidiary, Richborough Energy Park Limited, Pacific Green's 99 MW battery energy storage system (BESS) at Richborough Energy Park ("EP) which begins operations later this summer 2023.

Pacific Green was advised by JLL Energy and Infrastructure and Gowling WLG.

Generali Investments Luxembourg S.A. is a Luxembourg-based Management Company that sets up and operates a wide range of investment fund structures on behalf of Generali Group asset management companies and third-party clients.