Pacific Green Technologies, Inc.’s 99.98MW Battery Energy Storage System Project Financing

Gowling WLG has advised Pacific Green Technologies, Inc. on the deal.

Pacific Green Technologies, Inc. (“Pacific Green”) financed the company’s 99.98MW battery energy storage system (“BESS”) development at Richborough Energy Park, Kent.

Pacific Green was granted a senior debt facility agreement with merchant banking group Close Leasing Limited (“CLL”)*, to provide a development loan to fund the construction of the site, which will be utilised in stages following the expenditure of the equity investment. The development loan will then be refinanced into a 10 year amortised term loan upon the start of commercial operations.

Gowling WLG Partner Jonathan Brufal (Picture) led on the deal and projects contract work, alongside partners Nath Curtis (project finance lead), Gareth Baker (corporate), Helen Emmerson (real estate), and Gus Wood (offtake). Principal associates Robert Currall (project contracts) and Siân Dewing (corporate) and associate Dan O’Donnell (finance) were the key associates in their respective disciplines.

Involved fees earner: Gareth Baker – Gowling WLG; Jonathan Brufal – Gowling WLG; Robert Currall – Gowling WLG; Nath Curtis – Gowling WLG; Sian Dewing – Gowling WLG; Helen Emmerson – Gowling WLG; Dan O’Donnell – Gowling WLG; Gus Wood – Gowling WLG;

Law Firms: Gowling WLG;

Clients: Pacific Green Technologies, Inc.;

Giulia Di Palma

Author: Giulia Di Palma