Today, Pacifico Renewables Yield AG (the "Company", ISIN: DE000A2YN371, ticker Dusseldorf Stock Exchange: PRY) signed an agreement to acquire an onshore wind farm in Germany with an expected total capacity of 15.6 MW from a subsidiary of New Energies Systems AG (Mayen, Rhineland-Palatinate), an unaffiliated project development company. The wind farm is currently in an advanced stage of construction and will benefit from a 20-year statutorily determined remuneration of EUR 79.3 per MWh. Once fully operational, the initial expected electricity production is expected to be approximately 37 GWh p.a., which would result in annual revenues of approximately EUR 2.9 million. The parties agreed on an enterprise value of EUR 35.0 million, including senior project financing. This acquisition will grow the Company's overall portfolio by approximately 19% to 96.6 MW. Closing of the transaction is subject to certain conditions, including commercial operation of all turbines, which is expected to occur in early 2021. The acquisition shall be fully financed from the Company's existing revolving credit facility, which will be upsized in the context of this transaction.
About Pacifico Renewables Yield AG
Pacifico Renewables Yield AG is an independent energy producer listed on the open market of the Dusseldorf Stock Exchange with additional requirements (Primärmarkt) (ISIN: DE000A2YN371) with the aim of building up a gradually growing portfolio of plants for energy generation from renewable sources. With operational wind and photovoltaic power plants spread across Europe, the Company offers a clear and diversified profile with stable and predictable earnings.
This press release may contain certain forward-looking statements, estimates, opinions, and forecasts concerning the future business situation, earnings situation, and results of Pacifico Renewables Yield AG ("forward-looking statements"). Forward-looking statements can be identified by words such as "believe", "estimate", "anticipate", "expect", "intend", "will", or "should" and their negation and similar variations or comparable terminology. Forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current opinions, forecasts and assumptions of the Management Board of Pacifico Renewables Yield AG and involve significant known and unknown risks and uncertainties, therefore actual results, performance and events may differ materially from those expressed or implied by forward-looking statements. Forward-looking statements contained herein should not be construed as guarantees of future performance or results and are not necessarily reliable indicators of whether or not such results will be achieved. The forward-looking statements contained in this release are only valid on the date of this publication. We will not update the information, forward-looking statements or conclusions contained in this release in light of subsequent events or circumstances, nor will we reflect subsequent events or circumstances or correct inaccuracies that arise after the date of this release as a result of new information, future developments or otherwise, and we do not assume any obligation to do so. We do not assume any responsibility whatsoever that the forward-looking statements or assumptions contained herein will occur.
Pacifico Renewables Yield AG
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|Contact Person:||Paul Langemeyer|
|Stock Exchange(s):||Primärmarkt in Dusseldorf, Open Market (Free Market) in Frankfurt, Free Market in Munich|