Pacifico Renewables Yield buys15.6MW wind farm in Germany
Topics: PACIFICO RENEWABLES YIELD GERMANY
The asset was acquired from Germany’s New Energies Systems AG for an undisclosed sum. Pacifico financed the deal with funds from its EUR16.3 million ($19.2m) revolving credit facility provided by Triodos Bank NV. Following its completion, the total capacity in the company's portfolio has increased to 96.6 MW.
"The acquisition is another important step to expand our portfolio to 400 MW by 2023, reaching our mid-term target,” noted Pacifico's co-CEO Martin Siddiqui.
Located near Reudelsterz, Mayen-Koblenz district, the wind farm uses five Nordex turbines that went live in February. With an estimated annual output of around 37 GWh, the plant will help offset almost 30,000 tonnes of carbon dioxide (CO2) emissions per year.
The wind park has a fixed feed-in tariff of EUR 79.3 per MWh for 20 years under the Renewable Energy Sources Act of 2017. The asset's enterprise value is EUR 35 million, including senior project financing. ■