Pacifico to acquire 14.1 MW solar park in the Netherlands

• Germany-based renewable energy producer Pacifico Renewables Yield AG (ETR: PRY) has actually accepted buy a 14.1-MW solar project near the town of Hernen in the eastern of the Netherlands in a deal with a business value of EUR 14.5 million (USD 16.8 m).

The ground-mounted solar farm, which is currently incomplete, will create 12.9 GWh of green electricity after its commissioning which is prepared for the initial quarter of 2022, Pacifico stated on Thursday.

The facility is developed by Pacifico Energy Partners and also is expected to produce subsidy-backed profits of about EUR 1.1 million per year, benefiting from a public assistance mechanism (SDE+) for a duration of 15 years.

The purchase will certainly be funded through reinvested cash flows from Pacifico's operating portfolio and also its revolving credit center.

This is the fourth purchase for Pacifico this year as well as raises the ability added year-to-date to 89.1 MW.

In addition, Pacifico Renewables has extended its collaboration with Pacifico Energy Partners till 2029 and also expanded it to consist of onshore wind repowerings as approximately 22.5 MW of its portfolio can need such solutions in the near future.