DGAP-News: Pacifico Renewables Yield AG / Key word(s): Capital Increase/Change in Forecast
Pacifico Renewables Yield AG secures operational 7.6 MW solar park via contribution in kind and gains experienced project developer as strategic shareholder
- 7.6 MW solar park in Germany secured with 12 years of EEG feed-in tariff
- Portfolio grows by a further 8% to 104 MW
- Pioneers of the German solar industry become strategic shareholders
- Long-term cooperation planned - additional partnership with project developer
- Increase in guidance for the fiscal year 2021
For the contribution in kind, the Company will issue 73,000 new shares at an issue price of €34.77 per share.
This is expected to increase the Company's portfolio to 104 MW. Together with the acquisition of a turnkey 15.6 MW wind project in Germany in the first quarter of 2021, the Company has thus expanded its portfolio by 29% since the beginning of the year.
Dr. Martin Siddiqui, Co-CEO: "With this transaction, we are continuing our steady growth path and further expand our portfolio in our home market of Germany to now 73 MW. The buy-back option at the end of the feed-in tariff guarantees a maximally stable and predictable profile, as we will only generate EEG-secured income. By carrying out the transaction by means of a capital increase through a contribution in kind, we have made use of this instrument for the first time, which is also an interesting option for the future, and have once again demonstrated that we can finance our growth in an efficient and targeted manner."
Strategic shareholder and long-term partner for project development gained
The contributing company is backed by Markus and Andreas Wirth, the two managing shareholders of WIRTH GRUPPE. Together with their team, the Wirth brothers have developed and built solar plants internationally with an installed capacity of more than 2 GW, as well as large battery storage systems. In them, the Company wins two pioneers of the German solar industry as strategic shareholders. As part of the transaction, the Wirth brothers have committed to a two-year lock-up of the shares and made a declaration of intent for a long-term partnership. The development activities of the WIRTH GRUPPE, as well as the existing portfolio of the Wirth brothers, are intended to provide the Company with the opportunity to further expand its portfolio through the acquisition of construction-ready and operational solar plants in Germany and abroad.
Andreas Wirth, managing shareholder of WIRTH GRUPPE: "The contribution of a solar park developed by us not only makes us shareholders of Pacifico Renewables Yield AG but is also intended to be the beginning of a long-term partnership. We are convinced that Pacifico Renewables Yield AG has great potential and that our development skills are well complemented by Pacifico Renewables Yield AG's capital market expertise. The collaboration with Pacifico Renewables Yield AG will help us accelerate our development activities through the standardized sales process of construction-ready solar assets, while providing Pacifico Renewables Yield AG with further growth opportunities."
Christoph Strasser, Co-CEO: "The third partnership with a project developer is a great opportunity for us for the future. We feel that the partnership with the shareholders of WIRTH GRUPPE - true pioneers of the German solar industry - is a distinction for our business model. Markus and Andreas Wirth have numerous years of experience in our industry and great ambitions for the future, we are very much looking forward to our continued collaboration."
Increase in guidance for the fiscal year 2021
About Pacifico Renewables Yield AG
Pacifico Renewables Yield AG is an independent energy producer listed on the Open Market of the Düsseldorf Stock Exchange and its quality segment with additional requirements (primary market) (ISIN: DE000A2YN371) with the aim of building a continuously growing portfolio of renewable energy generation assets. Through operational solar and wind parks distributed across Europe, the company offers a clear and diversified profile with stable and predictable earnings.
About WIRTH GRUPPE
The WIRTH GRUPPE was founded in 1997 and invests mainly in renewable energies in Germany and abroad, real estate portfolios and other strategic investments.
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This publication does not constitute an offer or a solicitation of an offer to purchase any securities of Pacifico Renewables Yield AG or any of its subsidiaries. The securities have already been sold.
This release may contain certain forward-looking statements, estimates, beliefs and projections regarding Pacifico Renewables Yield AG's future business, results of operations and earnings ("forward-looking statements"). Forward-looking statements can be identified by terminology such as "believe", "estimate", "anticipate", "expect", "intend", "will", or "should", as well as their negation and similar variations or comparable terminology. Forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current opinions, forecasts and assumptions of Pacifico Renewables Yield AG's management and involve significant known and unknown risks and uncertainties, and therefore actual results, performance or events may differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements contained herein should not be taken as guarantees of future performance or results and are not necessarily reliable indicators of whether or not such results will be achieved. The forward-looking statements contained in this release speak only as of the date of this release. We will not update the information, forward-looking statements or conclusions contained in this release to reflect subsequent events or circumstances, or to correct inaccuracies that may arise after the release of this release as a result of new information, future developments or otherwise, and do not undertake any obligation to do so. We assume no responsibility in any way for the occurrence of the forward-looking statements or assumptions contained herein.
 Indirectly via Andreas & Markus Wirth Solaranlagen GmbH & Co. KG.
 Via the contributing company, Andreas & Markus Wirth Solaranlagen GmbH & Co. KG.
02.07.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Pacifico Renewables Yield AG
Bavariafilmplatz 7, Gebäude 49
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich, Tradegate Exchange
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