Sosteneo Fund 1 HoldCo S.à.r.l. entered into a sale and purchase agreement to acquire Pacific Green's 99MW battery energy storage system ("BESS") at Richborough Energy Park from Pacific Green Technologies Inc. (OTCPK:PGTK) on June 9, 2023. Under the terms of the Agreement entered into, the consideration is payable pursuant to operational milestones related to the battery park as it connects to the grid and becomes operational. Pacific Green will receive an advance of £20m upon signing of the Agreement with an anticipated completion over the following weeks.

Sosteneo Fund 1 HoldCo S.à.r.l. completed the acquisition of Pacific Green's 99MW battery energy storage system ("BESS") at Richborough Energy Park from Pacific Green Technologies Inc. (OTCPK:PGTK) for £74 million on June 26, 2023. Gowling WLG (UK) LLP acted as legal advisor to Pacific Green Technologies. JLL Energy and Infrastructure has also advised Pacific Green Technologies.