Pacific Green has finalized an agreement to sell 100% of the share in its Limestone Coast North Energy Park to Intera Renewables for $293 million. The Limestone Coast North facility in South Australia is a 250MW/500MWh battery storage project, starting commercial operations in early 2027.
A Key Asset for Australia’s Clean Energy Future
The Limestone Coast North Energy Park is crucial for stabilizing South Australia’s grid and accelerating the transition to net-zero emissions. Under the deal, Pacific Green will continue to manage the project’s construction right through to operational stage. Subsequently, Palisade Integrated Management Services (PIMS) will operate the asset on behalf of Intera Renewables.
This deal is part of Pacific Green’s overall plan to build a portfolio of battery energy storage projects throughout Australia. The company has a 10GWh pipeline, including Limestone Coast West and Portland Energy Park, set to begin operations soon.
Expanding Pacific Green’s Australian Portfolio
Scott Poulter, Pacific Green’s CEO said, “We are delighted to have entered this agreement with Palisade, one of Australia’s leading infrastructure fund managers. Limestone Coast North is critical to South Australia’s Electricity network and is the first of Pacific Green’s 10 GWh Australian pipeline. We are also very pleased to enter into the first of a portfolio of long term tolling Power Purchase Agreements with Zen Energy.”
The company is finalizing grid approvals for Limestone Coast West, a 250MW/1,000MWh project set to begin construction in September 2025. Additionally, Portland Energy Park, a larger 1,000MW/2,500MWh project across four battery assets, will begin construction in March 2026. The company also recently acquired land rights in Wagga Wagga for its first project in New South Wales.
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Intera Renewables, majority-owned by Palisade, will significantly contribute to Australia’s renewable energy transition by acquiring Limestone Coast North.
Macquarie Capital, Kidder Williams, KWM, Clayton Utz, and Ekistica advised Palisade, while Azure Capital, WSP, and Allens Linklaters guided Pacific Green. Development capital for the project was provided by the Australian Philanthropic Services Foundation.