Pacifico Energy has raised 266m USD for solar investment fund II

Dec 3, 2019 03:05 PM ET
  • Pacifico Energy Solar Fund II launch has been completed successfully. The money raised will be used for acquisition of five Japan-based photovoltaic projects with a total capacity exceeding 216 megawatts.
Pacifico Energy has raised 266m USD for solar investment fund II
Image: Pacifico Energy

The fund’s placement agents were Japanese branch of Goldman Sachs and NSC. The total amount of investment raised constituted 266m USD. 

So far, the solar fund has acquired the first solar project. The Tochigi-based installation has a capacity of 35 megawatts. The rest of the five solar facilities are scheduled to be acquired during the year to come. The developer is also going to provide the photovoltaic plants with asset management services.

Pacifico Energy Solar Fund I was launched two years ago and raised 142m USD. The first investment fund featured five Japan-based PV plants with a total capacity of 100 megawatts, direct current. To date, the returns obtained from the projects are exceeding the initial expectations. Taken together, two investment funds by Pacifico are predicted to decrease annual CO2 emission by 160 thousand tn.

The power company has been investing in Japan-based megawatt-scale photovoltaic ventures for seven years already, since the year of its establishment. The target pursued by the developer is making the environmentally friendly green energy sector steadily profitable.

The renewables developer is currently planning the launch of more energy funds in the future. The ambitions include both own and external PV projects. The company aims at raising the funds for more than 1 gigawatt of solar projects.

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