DGAP-News

Pacifico Renewables Yield AG signs 14.1 MW solar park acquisition in the Netherlands and prolongs strategic partnership

DGAP-News: Pacifico Renewables Yield AG / Key word(s): Acquisition/Strategic Company Decision Pacifico Renewables Yield AG signs 14.1 MW solar park acquisition in the Netherlands and prolongs strategic partnership 14.10.2021 / 12:15 The issuer is solely responsible for the content of this announcement. Pacifico Renewables Yield AG signs 14.1 MW solar park acquisition in the Netherlands and prolongs strategic partnership

• Fast-paced growth continues - 89.1 MW to be acquired year-to-date
• Sizeable solar park acquisition in the Netherlands with long-term public support mechanism
• Acquisition financed through reinvested cash flows and revolving credit facility
• EU taxonomy alignment assessment conducted
• Strategic partnership refined and prolonged

 

Gruenwald, October 14, 2021 - Today, Pacifico Renewables Yield AG (ISIN: DE000A2YN371) (the "Company"), an independent producer of electricity from renewable sources, signed a purchase agreement to acquire a solar park near Hernen in the Netherlands with an expected installed capacity of approximately 14.1 MW. The ground-mounted solar park was developed by the Company's strategic partner, Pacifico Energy Partners GmbH ("Pacifico Partners"). Both parties also agreed to refine and prolong their partnership.

Purchase agreement for 14.1 MW solar park in the Netherlands signed

The solar park is currently under construction and expected to be completed in the first quarter of 2022. The project will benefit from a public support mechanism (SDE+) with a duration of 15 years and has land rights secured for at least 30 years. Once fully operational, the annual electricity production of the plant with an east-west facing module layout is expected to be approximately 12.9 GWh which would result in subsidy-backed revenues of approximately €1.1 million p.a. over the next years.