Gruenwald (05.11.2020/23:22) – Today, Pacifico Renewables Yield AG (the “Company”, ISIN: DE000A2YN371, ticker Dusseldorf Stock Exchange: PRY) signed an agreement to acquire an onshore wind farm in Germany with an expected total capacity of 15.6 MW from a subsidiary of New Energies Systems AG (Mayen, Rhineland-Palatinate), an unaffiliated project development company. The wind farm is currently in an advanced stage of construction and will benefit from a 20-year statutorily determined remuneration of EUR 79.3 per MWh. Once fully operational, the initial expected electricity production is expected to be approximately 37 GWh p.a., which would result in annual revenues of approximately EUR 2.9 million. The parties agreed on an enterprise value of EUR 35.0 million, including senior project financing. This acquisition will grow the Company’s overall portfolio by approximately 19% to 96.6 MW. Closing of the transaction is subject to certain conditions, including commercial operation of all turbines, which is expected to occur in early 2021. The acquisition shall be fully financed from the Company’s existing revolving credit facility, which will be upsized in the context of this transaction.
About Pacifico Renewables Yield AG
Pacifico Renewables Yield AG is an independent energy producer listed on the open market of the Dusseldorf Stock Exchange with additional requirements (Primärmarkt) (ISIN: DE000A2YN371) with the aim of building up a gradually growing portfolio of plants for energy generation from renewable sources. With operational wind and photovoltaic power plants spread across Europe, the Company offers a clear and diversified profile with stable and predictable earnings.
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