Pacifico Energy K.K. (Pacifico) has completed acquisition of two solar power plants including 12.3MWdc Yanai and 23.9MWdc Yuza, into its first solar investment fund.
Image: The Yanai solar plant. Photo: courtesy of Business Wire.
With the acquisition of these two projects this first solar investment fund is now fully invested with total assets under management of 14.2 billion yen. The Fund acquired its first power plant in December last year.
“We are extremely pleased to announce the completion of all asset acquisitions into our first solar fund. We are planning a second fund this year and looking forward to partnering with investors to continue building renewable energy platforms,” Nate Franklin, President of Pacifico stated.
Pacifico was founded in 2012 when the new Japanese Renewable Energy Act was introduced. Since its founding, Pacifico has developed 8 mega solar power projects totaling over 640 MWdc. Pacifico has a pipeline of additional development projects totaling over 800 MWdc, of which 3 projects totaling 280 MWdc are expected to begin construction in 2018. Pacifico Energy is committed to developing solar power projects that contribute to the improvement of energy self-sufficiency for the future of Japan, in an environmentally friendly way, and assist with the development of local communities.
Source: Company Press Release