Pacific Green Completes Transaction To Sell Its 99MW Richborough Energy Park Battery Development For US$ 93 Million

Pacific Green Technologies, Inc. ("Pacific Green"), (OTCQB:PGTK) announces that it 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 for GBP74 million (US$93 million).

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

Scott Poulter, Pacific Green's CEO, commented: "The sale of Richborough Energy Park creates the platform for Pacific Green to now scale its Battery Park division internationally. This is a very exciting time for the business and we are proud to be part of the drive to net-zero."

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

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