Japan's Pacifico Energy completes acquisitions for 100-MW solar fund

Japanese solar developer Pacifico Energy KK today said it has completed the acquisitions of two solar power plants with a combined capacity 36.2 MW direct current (DC) for its first solar investment fund.

The purchases mean the fund is now fully invested with total assets under management of JPY 14.2 billion (USD 127.6m/EUR 108.9m). The company is planning a second fund this year.

Pacifico Energy announced the launch of the first fund, which raised JPY 15.5 billion from local institutional investors, in February 2018. It said then that the fund had already finalised three acquisitions, including the 56.87-MWdc Pacifico Energy Furukawa Mega Solar Plant in Osaki City, Miyagi Prefecture, which became operational in December 2016, and that it would consist of five Japanese solar power plants totaling about 100 MWdc.

The newly acquired assets are the 23.9-MWdc Yuza solar plant in Yuza, Yamagata Prefecture, which started operations in January 2017, and the 12.3-MWdc Yanai facility in Yanai, Yamaguchi Prefecture, which became operational in July 2017.

(JPY 100 = USD 0.899/EUR 0.767)

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