Munich, December 7, 2021 – Pacifico Energy Partners GmbH (“Pacifico”), an international project developer and asset manager for onshore wind and photovoltaics plants, has successfully closed the sale of three onshore wind farms in Poland with a combined capacity of 51.8 MW via one of its group companies, the second asset disposal in the fourth quarter of 2021. 

After the disposal of the 14.1 MW Hernen photovoltaics plant in October, Pacifico has closed the sale of Dębowa Łąka, Świecie and 12W projects two weeks ago.

Despite the disposal, Pacifico remains committed to Poland and maintains a significant footprint in the market as a developer of new wind and PV plants. The company will use the sales proceeds to finance the realisation of its fast-growing 1,000 MW development pipeline, among others, in Poland, Italy, Germany and the Netherlands. Pacifico has been mandated as long-term asset manager for the assets and hence is delighted to continue ensuring smooth operation for many years to come. 

The projects were acquired in 2018 and after re-permitting them to allow for use of larger wind turbines and optimization of the grid connection concept, all three projects secured a contract-for-difference in the Polish mixed technology renewable energy auction in December 2019. The revenue structure was further optimized by conclusion of a power purchase agreement and well-balanced exposure to merchant electricity prices.

After approximately 18 months of construction, the projects had secured the electricity generation license earlier this year and Pacifico has decided to use the favourable market conditions to close the sale via the right of first offer agreement with Pacifico Renewables Yield AG.

Ulf Oesterlin, Co-CEO of Pacifico: “The latest sales successes in the Netherlands and Poland demonstrate Pacifico’s expertise in developing high-quality renewable energy projects. With the sale of these assets, we can invest more capital into new early-stage development projects. This allows us to maximize our contribution to the energy transition with our available capital.”

Pacifico Energy Partners continues to grow its Polish project portfolio: Last week, we added five projects to our PV portfolio in Poland. The projects are located in south-western part of the country and are in early stages of development. Once fully permitted, they are expected to reach a total capacity of 250 MW.

The team is looking forward to the next steps of development and to continuing to support the energy transition in Poland.

Pacifico Energy Partners’ PV projects in Italy are advancing towards the generation of green electricity for the country: Three projects located in Sicily, Sardinia, and Apulia, with a total capacity of 130 MW, recently submitted the documentation for environmental and construction permitting, after having secured land and grid connection earlier this year.

With the improvements to PV permitting procedures through the recent “Simplification Decree” the Italian government has proven its commitment to large-scale PV deployment. We now hope to see a swift implementation of these improvements, with tangible effects on permitting speed and predictability.

Pacifico Energy Partners (‘Pacifico’) continues its successful growth story in the Dutch market: We are proud to announce that we successfully developed a 14.1 MWp solar park in the Netherlands. On Wednesday, we closed the transaction for this solar park, selling it to our strategic partner, Pacifico Renewables Yield AG. Pacifico remains closely involved with the project, supervising the ongoing construction until the plant reaches COD. Pacifico will also provide long-term asset management services and continue it’s involvement in the community. The successful closure of this transaction marks another important milestone for the project itself and the ambitious growth strategy of Pacifico.

“We see the Netherlands as a key market for us in the next years. We are looking forward to developing further PV projects and supporting the energy transition in the Netherlands”, says Ulf Oesterlin, co-CEO of Pacifico Energy Partners GmbH

Pacifico Energy Partners is pleased to announce the closing of a senior financing of €11.3 million for the 14.1 MW Hernen solar PV project in the municipality of Wijchen, Netherlands. The project is currently in construction and first electricity production is expected at the end of 2021.

Triodos Groenfonds and Triodos Bank (together “Triodos”) will provide non-recourse senior debt financing and ancillary facilities to the project company as joint lenders. The 16-year tenor exceeds the 15-year SDE+ subsidy that the project had secured in 2019.

Jannik Hoffmann, CFO of Pacifico Energy Partners, said: “This financing with Triodos underlines Pacifico Energy Partner’s ability to secure best-in-class financing for renewable energy projects. We are delighted to have closed yet another transaction with this partner that shares our sustainability values and enables the delivery of new green electricity into the Dutch grid.”

Wesley Vedder, Relationship Manager at Triodos: “Triodos is proud to further extend the highly valued relationship with Pacifico Energy Partners by closing this additional financing. This transaction brings us one step closer to completing the Dutch transition to clean energy, one of the key areas in which we seek to create impact and in which there is much more to do.”

Pacifico Energy Partners GmbH is a renewable energy company for wind and solar energy. It develops greenfield projects, repowers existing plants, provides state-of-the-art asset management services and facilitates the acquisition of operational and turn-key plants.

Founded in 1980, Triodos Bank has become a front runner in sustainable banking globally. Triodos Bank is an independent bank that promotes responsible and transparent banking. It does not see any conflict between a focus on people and the planet and a good financial return. Instead, it believes that they reinforce each other in the long-term. Triodos Bank has banking activities in the Netherlands, Belgium, the UK, Spain and Germany as well as Investment Management activities based in the Netherlands but is active globally.

Pacifico Energy Partners is proud to announce the realization of further important milestones in the pursuit of our ambitious renewable energy goals in Italy. Last month, two of our project companies in Sardinia and Sicily received approval to be connected to the national grid with a total feed-in capacity of approximately 105 MW. We are looking forward to the next steps!

Pacifico Energy Partners continues its growth in the Italian PV market: We are exceptionally pleased to have acquired two further PV projects with 91 MW in sunny Apulia, Italy. Both projects have secured land and grid access, and we expect to submit permit approval requests soon.

Successful renewable development requires careful integration into the surroundings: We are particularly excited to develop one of the projects on a disused stone quarry. Thus, we minimize landscape impact and bring idle-lying land back to a productive usage.

Pacifico Energy Partners (‘Pacifico’) has advanced its pipeline in Poland. Recently, Pacifico acquired three large PV projects, for which a memorandum of understanding was in place, at different stages of development, located in two different regions of Poland (Podlaskie and Zachodniopomorskie). The projects are expected to reach a capacity of up to 280 MW. Poland, with its rapidly growing PV market, is a great opportunity to expand Pacifico’s pipeline, and the team is excited to support Poland’s energy transition.

Pacifico has also made yet another step to expand its position in the Italian PV market with a new project of 70 MW in the region of Lazio. The project already has secured land and is swiftly moving towards securing grid connection. The team looks forward to continuing the development as quickly as possible, and to helping Italy achieve its ambitious renewable energy goals.

With these project additions Pacifico’s pipeline of projects in development grows to a total of more than 650 MW.

“We are proud of our rapid expansion, and we look forward to growing our pipeline further. With a team of more than 40 professionals, combining development, financing, PPA, construction and asset management expertise, Pacifico has become a state-of-the-art partner – for local project developers seeking financing and professional support for projects, as well as for investors seeking access to professionally managed projects.” Ulf Oesterlin (CEO of Pacifico Energy Partners GmbH)

We are delighted to announce that 12W – one of our three wind parks located in Kuyavian-Pomeranian Voivodeship in Poland – finished its trial operation and is producing electricity. The other two wind parks – Świecie and Dębowa Łąka – are currently being launched and going through the testing phase. All three wind parks are expected to reach commercial operation soon and will add 51.8 MW of renewable power generation capacity to the Polish energy system.

It is a great step not only for Pacifico Energy Partners, but also for Poland on the way to realizing its renewable energy targets.

Pacifico Energy Partners is happy to announce that it has secured additional land to develop new PV plants in the Italian regions of Sicily, Sardinia and Apulia.
We are thrilled to participate in Italy’s ambitious clean energy plans by expanding our portfolio in the country by approximately 150 MWp, thus pushing our total Italian porfolio up to 225 MWp.