Pacifico Renewables Yield AG successfully completes acquisition of wind farm in Germany

March 30, 2021

Gruenwald, March 30, 2021 – Pacifico Renewables Yield AG (ISIN: DE000A2YN371) (“Pacifico”), an independent energy producer listed in the primary market segment of the open market of the Dusseldorf Stock Exchange, has successfully completed the acquisition of an onshore wind farm with a capacity of 15.6 MW located close to Reudelsterz in Rhineland-Palatinate. All five turbines have been commissioned successfully in January and February 2021. The seller is New Energies Systems AG (Mayen, Rhineland-Palatinate). The signing of the purchase agreement had been announced on 5 November 2020.

The onshore wind park is expected to produce approximately 37 GWh of green electricity p.a. and reduce CO2 emissions by almost 30,000 tons p.a. Based on a 20-year German feed-in tariff, annual revenues of approximately EUR 2.9 million are expected from this project. With the successful closing of the transaction the capacity of Pacifico’s portfolio increases by 19% to 96.6 MW.

Dr. Martin Siddiqui, Co-CEO of Pacifico: “The acquisition is another important step to expand our portfolio to 400 MW by 2023, reaching our mid-term target. With the new onshore wind farm, we also add additional stable income to our portfolio based on a 20-year government-guaranteed feed-in tariff.”

The transaction was fully debt-financed with Pacifico’s EUR 16.3 million revolving credit facility (“RCF”) provided by Triodos Bank N.V.

Christoph Strasser, Co-CEO of Pacifico: “Once again, we were able to demonstrate our prudent use of capital. First, we invested after successful commissioning of the project, so only after the project has started to generate first cash flows. Second, we used part of our RCF to fully debt finance the acquisition and as a result realized maximum value for our shareholders.”

Pacifico Energy Partners GmbH will be mandated as asset manager for this new wind park.

 

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.

 

Disclaimer
This press release may contain certain forward-looking statements, estimates, opinions, and forecasts concerning the future business situation, earnings situation, and results of Pacifico Renewables Yield AG (“forward-looking statements”). Forward-looking statements can be identified by words such as “believe”, “estimate”, “anticipate”, “expect”, “intend”, “will”, or “should” and their negation and similar variations or comparable terminology. Forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current opinions, forecasts and assumptions of the Management Board of Pacifico Renewables Yield AG and involve significant known and unknown risks and uncertainties, therefore actual results, performance and events may differ materially from those expressed or implied by forward-looking statements. Forward-looking statements contained herein should not be construed as guarantees of future performance or results and are not necessarily reliable indicators of whether or not such results will be achieved. The forward-looking statements contained in this release are only valid on the date of this publication. We will not update the information, forward-looking statements or conclusions contained in this release in light of subsequent events or circumstances, nor will we reflect subsequent events or circumstances or correct inaccuracies that arise after the date of this release as a result of new information, future developments or otherwise, and we do not assume any obligation to do so. We do not assume any responsibility whatsoever that the forward- looking statements or assumptions contained herein will occur.

 

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