TOKYO--(BUSINESS WIRE)--Pacifico Energy K.K. (“Pacifico”), a company involved in the development, construction, and operation of some of the largest solar power plants in Japan, announced today that it has successfully completed the acquisitions of two additional solar power plants, Yanai (12.3MWdc) and Yuza (23.9MWdc), into its first solar investment fund (the “Fund”). 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.
Summary of solar plants acquired(1)
1. Yuza Solar Plant
|Location||Yuza, Yamagata Prefecture|
|Panel Output||23.91 MWdc|
|Commercial Operation Date||January 4, 2017|
2. Yanai Solar Plant
|Location||Yanai, Yamaguchi Prefecture|
|Panel Output||12.26 MWdc|
|Commercial Operation Date||July 1, 2017|
(1) For further details, please refer to the press release dated February 1, 2018.
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.