Pacific Green Confirms its intent to acquire Tupa Energy Limited owned Sheaf Energy Limited, a 249 MW Battery Energy Storage Development in the UK

Pacific Green Energy Storage (UK) Limited (“PGES(UK)”), a wholly-owned subsidiary of Pacific Green Technologies, Inc. (the "Company" or "PGTK", (OTCQB:PGTK)), announces that under the terms of its framework agreement (the “Agreement”) with Tupa Energy Limited (“Tupa”), it has confirmed its intent to acquire Sheaf Energy Limited (“SEL”), a Kent, England-based 249 MW battery energy storage system (“BESS”) development wholly owned by Tupa.

Following the 99.8 MW Richborough Energy Park Limited BESS development that PGES(UK) acquired earlier this year, the 249 MW SEL BESS development is the next phase of the 1,100 MW BESS Agreement that PGES(UK) entered into with Tupa in March 2021. PGES(UK) and Tupa continue to build on the success of the initial developments, with the balance of the 750 MW expected to be operational in 2025.

PGES(UK) will continue to combine the comprehensive knowledge of the UK energy storage market and technical expertise of wholly-owned BESS design and integration specialist, Pacific Green Innoergy Technologies Limited, along with Shanghai Electric Gotion New Energy Technology Co., Limited’s (“SEG”) state-of-the-art 10 GWh per annum battery production capacity, to deliver high-quality developments at an industry-leading scale.