Pacifico Energy Partners and Volksbank Mittelhessen establish a joint venture to develop renewable energy projects in Germany and the Netherlands.
20 / 06 / 23
Munich, Germany – 27th of April 2023: Pacifico Energy Partners ("Pacifico") and Volksbank Mittelhessen announced the establishment of a new joint venture to develop renewable energy projects in Germany and the Netherlands. The aim of the long-term partnership is to jointly develop projects with a nominal capacity of at least 300 MW.
The joint venture will initially start with the development of photovoltaic projects with a capacity of approximately 130 MWp. Further portfolio growth is envisaged in the short term and can go beyond the development of photovoltaic projects.
Pacifico’s extensive experience in renewable energy project development will be utilized to identify and develop projects for the joint venture. Volksbank Mittelhessen will finance the joint undertaking as well as contribute its know-how in realizing renewable energy projects.
“We are excited to work with Volksbank Mittelhessen to advance the development of renewable energy projects in Germany and the Netherlands,” said Jannik Hoffmann, Chief Financial Officer of Pacifico. “Our joint venture combines Pacifico’s extensive expertise in renewable energy with Volksbank Mittelhessen’s strong financial competence, enabling us to make a significant contribution to the energy transition.”
“By investing in renewable energy production, we can contribute to securing and expanding the energy supply of the future. This is an important part of our sustainability strategy and our goal to best support our members,” says Volksbank spokesman of the management board, Dr. Lars Witteck. “We are pleased that with Pacifico we have found an experienced and reliable partner with whom we can work towards achieving these objectives.”
Herbert Smith Freehills (Pacifico) and Schiedermair (Volksbank Mittelhessen) acted as legal advisors.
Pacifico Energy Partners GmbH is a renewable energy company focusing on wind and solar assets as well as battery and hydrogen systems. We develop greenfield projects, repower existing plants, provide state-of-the-art asset management services and facilitate the acquisition of operational and turn-key plants.
About Volksbank Mittelhessen
Volksbank Mittelhessen is one of the largest cooperative banks in Germany with total assets of EUR 10.6 billion. With 1117 employees and 74 branches throughout Mittelhessen, it is a competent and reliable advisor and financing partner for around 350,000 private and corporate clients. Approximately 200,000 members hold shares in the cooperative.
"We are excited to work with Volksbank Mittelhessen to advance the development of renewable energy projects in Germany and the Netherlands," said Jannik Hoffmann, Chief Financial Officer of Pacifico. "Our joint venture combines Pacifico's extensive expertise in renewable energy with Volksbank Mittelhessen's strong financial competence, enabling us to make a significant contribution to the energy transition."
Jannik Hoffmann, Chief Financial Officer of Pacifico Energy Partner