Pacific Green has signed binding documentation to sell 100% of its shares in the Limestone Coast North Energy Park to Intera Renewables (Intera) in a deal valued at A$460 million (US$293 million).
Limestone Coast North, a 250MW/500MWh battery energy storage project located in South Australia, will begin commercial operations in early 2027. As part of the transaction, Pacific Green will continue managing the construction phase, transitioning to Palisade Integrated Management Services (PIMS) for asset management once operations begin.
The energy park will significantly enhance grid stability in the region and contribute to Australia's net-zero transition. This project is the first of two planned in the Limestone Coast by Pacific Green, with more developments in the pipeline, including the 250MW/1,000MWh Limestone Coast West and 1,000MW/2,500MWh Portland Energy Park.
Pacific Green’s CEO, Scott Poulter, expressed excitement about the partnership with Palisade, a leading Australian infrastructure fund manager. He emphasized the importance of Limestone Coast North for South Australia’s electricity network and the ongoing commitment to Australia’s clean energy goals.
Simon Parbery, Executive Director at Palisade, highlighted the strategic value of the project, marking Palisade’s first large-scale energy storage investment and its alignment with Australia’s renewable energy objectives.
The transaction underscores Pacific Green’s ambition to become a leading player in Australia’s utility-scale battery storage market, with plans to expand its 10GWh development pipeline nationwide.
Advisors for the transaction included Macquarie Capital, Kidder Williams, KWM, Clayton Utz, and Ekistica for Palisade, and Azure Capital, WSP, and Allens Linklaters for Pacific Green. Development capital was provided by the Australian Philanthropic Services Foundation.
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