Renewable

October 11 (Renewables Now) - Germany-based renewable energy producer Pacifico Renewables Yield AG (ETR:PRY) has agreed to purchase three onshore wind farms with a total capacity of 51.8 MW in Poland as it seeks to expand its portfolio to 400 MW by 2023.

Pacifico bought the farms based on a cash-free enterprise value of some EUR 104 million (USD 120.3m) from its partner Pacifico Energy Partners GmbH which was in charge of the development, the German company said on Monday.

The three facilities feature a total of 20 Vestas turbines that were commissioned by the end of the first half of 2021 and are expected to generate about 191 GWh of green electricity per year, saving more than 154,000 tonnes of carbon emissions annually.

The electricity from the farms is sold on the market as well as under a 15-year inflation-linked public support mechanism and three-year fixed-price power purchase agreements (PPAs).

"This acquisition is not only about growth, but also shows our commitment to grow our portfolio with assets that add to the geographical diversification of our portfolio, benefit from contracted revenues but also provide additional upside," said co-chief executive Martin Siddiqui.

The deal marks the third acquisition for Pacifico so far this year and boosts the capacity added in 2021 to 75 MW.

Pacifico has a portfolio of 104.2-MW wind and solar plants, including onshore wind and photovoltaic power facilities of up to 15.6 MW each, located in Germany, the Czech Republic, Italy, and the Netherlands.

(EUR 1 = USD 1.157)