Pacific Green

As we close down for the year we're looking back over 12 months of great progress for Pacific Green in 2024. The last year will be remembered as one of mixed results for the #energytransition globally. Worldwide demand for coal hit a peak, global warming went off the scale, and European solar and wind growth stalled. But at Pacific Green we achieved strong progress in all the markets in which we operate, as we move closer towards our global goal of 12GWh #energystorage capacity. Take a look back with us here in this month-by-review of some of the highlights: https://ow.ly/CJEK50UvPBI

Pacific Green has secured its first capacity market contract in Poland for a 50MW / 200MWh battery energy storage (BESS) project at Platerówka.   The contract, awarded in last week’s T-5 Capacity Market auction has been secured at the clearing price of 264.9PLN (€62.14)/kW/year. This secures a revenue stream for the project for 17 years, with target commissioning aiming for 2028. More details here: https://ow.ly/FmLP50Uu3oz #EnergyStorage #Poland #RenewableEnergy

Grid-scale battery technology is now a critical tool in delivering global climate goals, enabling #RenewableEnergy to be deployed consistently, at scale. While big batteries have virtually no direct GHG emissions once operational, this doesn’t mean the sector has a free pass on sustainability. At Pacific Green, we’re proud of the role our projects and technology are playing in accelerating the #NetZero transition. But we’re also aware that we, as a company, must always operate sustainably. Read about our approach to #sustainability here: https://ow.ly/mmBE50UrXXq

At Pacific Green we were quick to celebrate the #COP29 Global Energy Storage and Grids Pledge, which we see as tangible progress in the practicalities of the global #energytransition. The pledge commits signatories to increase global #energystorage capacity *six times* above 2022 levels, to achieve a total installed base of 1.5 terawatts (TW) by 2030. This represents a 36% increase on the 1.1 TW that analyst group S&P Global Commodity Insights predicts will be in place by 2030 at current rates of growth. Endorsing nations also commit to add or refurbish a total of more than 80 million kilometres of grid infrastructure by 2040. Such climate action can be seen as a lever to regain industrial leadership and a model for economic growth - an concept we explore here: https://ow.ly/JXPv50UlwCm

Pacific Green can today announce an expansion of our Australia footprint into New South Wales with a strategic land acquisition in Wagga Wagga. The land is strategically co-located near TransGrid’s existing Wagga 330 kV substation and close to a concentration of renewable energy projects and HumeLink - one of Australia’s largest energy transmission line projects. A future grid connected #battery energy park in this location will strengthen and support the region’s renewable energy portfolio. This marks Pacific Green’s entry into the New South Wales market and further progresses the company’s objective to build a 10GWh development pipeline of battery energy parks throughout Australia. More details are available in the press release here: https://ow.ly/SgEz50UjmhU #RenewableEnergy #EnergyStorage #EnergyTransition

"Global lithium-ion #battery capacity could hit 1.2 terawatt-hours (TWh) by 2030, then balloon to 27 TWh by 2050, enough to absorb all the electricity produced in Slovakia in 2022." DNV’s annual "Energy Transition Outlook" report is always a key read for the #Energy sector. Here are some key insights: - Europe has a 24% share of solar and wind in 2023—and this will rise to 62% by 2050, hitting 50% by 2039 - In North America the 2023 share of wind and solar was just 16%, yet it is set to rise to 80% by 2050, crossing 50% in 2037. An important development is this: "the economic viability of lithium-ion for long-duration storage is being helped by reductions in the cost of technology." The report projects that by 2030, DNV believes, utility-scale lithium-ion battery systems could operate at a levelized cost of less than $200 per megawatt-hour (MWh). https://ow.ly/3BP750UhWX5

Congratulations from everyone Pacific Green to the whole Zen team for acheiving this huge milestone event.

"Richborough Energy Park 2 (REP2) has cut more carbon emissions than any other battery project in the UK this year." According to this report by Modo Energy, the Richborough Energy Park 2 (REP2) development has saved 13,000 tonnes of carbon so far this year, "more than any other battery." The report also finds: "Battery Energy Storage Systems in Great Britain...have saved 4% of power sector carbon emissions in 2024." Pacific Green takes great pride in its role as a positive force driving the global #energytransition. Our work helps governments and nations achieve their #netzero targets and we are committed to enhancing environmental sustainability across our operations. So we're very proud to have played a role in this contribution to the UK's #EnergyTransition progress. https://ow.ly/f4tA50U9L4l #EnergyStorage #BatteryStorage #CleanEnergy

"Just making the call may be a relief to many in the energy sector.” - Dane Wilkins. Zonal pricing is the idea of splitting the UK’s wholesale electricity market into different pricing zones to more closely reflect local demand and stimulate energy infrastructure investment in areas where it has greatest value. But the five year implementation time is causing uncertainty and paralysis for investors, and has led to a "bruising debate" across the industry. At Pacific Green, we are sympathetic to both points of view. But we do have a message for Ed Miliband: if there is one thing that investors are averse to, it is uncertainty. Read up on this important issue here in our latest article: https://ow.ly/6J4J50U7HyV

Green energy infrastructure will clearly help households and the environment we all live and work in. But green infrastructure can also deliver lasting benefits to local communities if project proponents take an active role in the process. That's why we believe in "Community First" Batteries: https://ow.ly/xVnb50U1ukk #CommunityFirst #RenewableEnergy #NetZero