Pacifico Energy Raises 15.5 Billion Yen for Its First Solar Fund

Pacifico plans to launch additional renewable energy funds in the future incorporating a pipeline of its own developed solar projects and carefully chosen external solar assets.

Pacifico Energy K.K. has announced it has successfully completed the launch of its first solar investment fund. The Fund will be comprised of 5 Japanese solar power plants totaling over 100 MWdc. The Fund has successfully completed the acquisitions of the 3 solar plants in Chiba and Miyagi prefecture and is in process of acquiring 2 other solar plants (one plant in eastern Japan and the other in western Japan).

Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. was financial advisor to the Fund, which successfully raised 15.5 billion yen from Japanese institutional investors. Baker McKenzie acted as legal counsel to the Fund.

Pacifico is also providing asset management services to these solar plants by deploying its knowledge and experience gained from successfully developing solar projects totaling over 640 MWdc.

Pacifico plans to launch additional renewable energy funds in the future incorporating a pipeline of its own developed solar projects and carefully chosen external solar assets.

The projects are in place to grow the funds to over 1 GWdc of projects with a 150 billion yen cumulative investment over the next two years. Pacifico also plans to extend its asset management services to those solar power plants.

Nate Franklin, President of Pacifico said, “We are pleased to announce the launch of our first solar fund partnering with Japanese institutional investors. Pacifico has been investing in Japanese mega solar projects since its foundation. We are looking forward to partnering with more Japanese institutional investors to form second and third investment funds in the future providing access to stable investment returns through an eco-friendly clean energy platform.”

Source: Business Wire