Pacific Green Technologies Completes Sale of Limestone Coast North Energy Park to Intera Renewables for A$460 Million
Sydney, Australia, March 20, 2025 – Pacific Green Technologies, Inc. (PGTK), a leading renewable energy company, is pleased to announce that it has reached financial close and completed the sale of 100% of the shares in its Limestone Coast North Energy Park to Intera Renewables (Intera). The transaction, with an enterprise value of A$460 million (US$293 million), marks a significant milestone in Pacific Green’s mission to expand its renewable energy portfolio and contribute to a sustainable future.
Background on the Transaction
The Limestone Coast North Energy Park is a 200 MW wind farm located in South Australia. Pacific Green developed, constructed, and operated the project since its inception. The sale to Intera represents a strategic move for Pacific Green as it focuses on its core competencies and seeks to grow its business through new projects and technologies.
Impact on Pacific Green Technologies
The sale of Limestone Coast North Energy Park to Intera Renewables will bring several benefits to Pacific Green. Firstly, it will enable the company to strengthen its balance sheet by injecting significant cash into its operations. This capital will be used to fund new projects, invest in research and development, and potentially return value to shareholders. Additionally, Pacific Green will continue to provide operations and maintenance services to the wind farm under a long-term agreement with Intera, ensuring a steady revenue stream.
Impact on Consumers and the Environment
The sale of the Limestone Coast North Energy Park to Intera Renewables will have a positive impact on consumers and the environment. Intera is committed to maintaining the wind farm’s high operational standards and will continue to provide renewable energy to the South Australian grid. As a result, the sale will not affect the reliability or availability of the renewable energy generated by the wind farm. Furthermore, the transaction demonstrates the growing demand for renewable energy and the increasing role it plays in the global energy market.
Impact on the Renewable Energy Industry
The sale of Pacific Green’s Limestone Coast North Energy Park to Intera Renewables is a testament to the growing momentum in the renewable energy sector. With increasing demand for renewable energy and governments worldwide setting ambitious targets to reduce carbon emissions, the market for renewable energy projects is expected to continue to grow. This transaction is likely to encourage further investment in renewable energy projects and reinforce the industry’s position as a key contributor to the global energy landscape.
Conclusion
Pacific Green Technologies’ sale of the Limestone Coast North Energy Park to Intera Renewables is a significant milestone for the company and the renewable energy industry as a whole. The transaction will provide Pacific Green with the capital to invest in new projects, strengthen its balance sheet, and continue to contribute to a sustainable future. Furthermore, it underscores the growing demand for renewable energy and the increasing role it plays in the global energy market. This deal is a win-win for all parties involved and a positive step towards a cleaner, more sustainable energy future.
- Pacific Green Technologies sells Limestone Coast North Energy Park to Intera Renewables for A$460 million
- Transaction strengthens Pacific Green’s balance sheet and focuses the company on core competencies
- Impact on consumers and the environment minimal as Intera continues to operate the wind farm
- Growing demand for renewable energy drives further investment in the sector
- Transaction reinforces the role of renewable energy in the global energy landscape
