Pacifico Renewables to become anchor shareholder in clearvise
The Korbersdorf wind park in Bavaria, Germany. Image by clearvise AG.
German independent power producer clearvise AG (ETR:ABO) will acquire a 166-MW portfolio of wind and solar plants from Pacifico Renewables Yield AG (ETR:PRY) as part of a broader deal that will make the latter the anchor shareholder in clearvise.
The two companies have signed a memorandum of understanding (MoU) under which Pacifico's portfolio of solar and wind parks in Europe will be transferred to clearvise.
The green asset transfer is part of a two-step transaction that will give Pacifico a 40% holding in clearvise, the two companies said.
Pacifico has already agreed to buy a 21.9% stake in clearvise from Pelion Green Future. In a second step, the interest will be raised to around 40% via a contribution-in-kind of the solar and wind portfolio into clearvise against additional shares and cash.
The deal will support Pacifico's strategy to invest in other ready-to-scale green technologies beyond renewables. After the transaction, renewable energy will remain a core business for the company but its operations will be broadened into other areas such as utility-scale battery storage projects.
“We started off as a pure-play green energy producer with the ambition to accelerate the energy transition. The urgency to decarbonise our energy system quickly has never been greater, offering unprecedented opportunities going beyond wind and solar projects," said Pacifico's co-CEO Christoph Strasser.
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