Pacifico Renewables markets 7.5-MW Czech solar portfolio to get in UK
- German renewable energy manufacturer Pacifico Renewables Yield AG (ETR: PRY) on Monday claimed it has consented to market its Czech portfolio of 4 solar systems with an incorporated capacity of 7.5 MW to be able to enter the UK solar and also battery storage market.
The business is dealing with the Czech centers at a venture value of around EUR 20 million (USD 20.3 m) in what is its very first portfolio rotation. It claimed the profits will permit it to get initial projects in the UK as well as possibly go into the battery storage market.
"We are selling functional properties impacted by regulative instability in order to get in new markets with promising prospects for us," stated co-chief executive Christoph Strasser. The firm is moving its focus towards battery storage space, which is anticipated to play a key role in the power change not just in the UK, but in progressively even more markets such as Germany, where recent governing adjustments are seen to assist accelerate battery storage advancement.
In the UK, Pacifico created a partnership with solar as well as power storage space programmer Boom Power in 2021. It said the very first projects resulting from this teamwork are expected to reach the ready-to-build phase quickly.
Due to the sale, the company decreased its 2022 revenue advice to in between EUR 30 million as well as EUR 40 million from in between EUR 33 million and also EUR 43 million.