Pacifico Energy raises ¥15.5 billion for first solar investment fund

By Wendy Van Sickle

Columbus, Ohio, Jan. 31 – Pacifico Energy KK completed the launch of its first solar investment fund, which raised ¥15.5 billion from Japanese institutional investors, according to a news release.

The fund will be comprised of five Japanese solar power plants totaling over 100 MWdc and has already completed the acquisitions of three solar plants in Chiba and Miyagi prefecture and is in the process of acquiring two other solar plants, one in eastern Japan and the other in western Japan, according to the release.

Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. was financial advisor to the fund.

Pacifico is also providing asset management services to these solar plants, calling on its knowledge gained from developing solar projects totaling over 640 MWdc.

The company plans to launch additional renewable energy funds in the future incorporating a pipeline of its own developed solar projects and external solar assets. Pacifico expects to grow the funds to over 1GWdc of projects with a ¥150 billion yen cumulative investment over the next two years.

Tokyo-based Pacifico was founded in 2012 when the new Japanese Renewable Energy Act was introduced. It has developed eight mega solar power projects totaling over 640 MWdc

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