DGAP-News: Pacifico Renewables Yield AG / Key word(s): Acquisition
Pacifico Renewables Yield AG successfully completes acquisition of wind farm in Germany
2021-03-30 / 07:00
The issuer is solely responsible for the content of this announcement.
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Pacifico Renewables Yield AG successfully completes acquisition of wind farm in Germany
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 CO[2] 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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2021-03-30 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Archive at www.dgap.de
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Language: English
Company: Pacifico Renewables Yield AG
Bavariafilmplatz 7, Gebäude 49
82031 Grünwald
Germany
E-mail: ir@pacifico-renewables.com
Internet: www.pacifico-renewables.com
ISIN: DE000A2YN371
WKN: A2YN37
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich, Tradegate Exchange
EQS News ID: 1179464
End of News DGAP News Service
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1179464 2021-03-30
(END) Dow Jones Newswires
March 30, 2021 01:01 ET (05:01 GMT)