Pacifico again raises 2021 revenue guidance

German renewable energy producer Pacifico Renewables Yield AG (ETR:PRY) on Thursday again increased its forecast for 2021 and now expects revenue to grow more strongly driven by high electricity prices in Poland.

Revenue in 2021 is now projected in the range of EUR 20.5 million to EUR 23.5 million (USD 26.64m) compared with the previous forecast of EUR 20 million - 22 million. This is the third increase in Pacifico's revenue guidance this year and follows the acquisition of a 51.8-MW wind farm portfolio in Poland that was closed in November. Electricity prices in the country are considerably higher than previous expectations which is boosting Pacifico's revenues.

The acquired assets include three onshore wind parks located in northern Poland and the purchase has a cash-free enterprise value of some EUR 104 million.

In addition, Pacifico maintained its power production outlook that was updated in November. Electricity output is seen to be at the upper end of or slightly higher than the 116 GWh-128 GWh forecast.

In 2020, Pacifico's revenues amounted to EUR 16.2 million.

(EUR 1 = USD 1.134)

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