Pacifico Energy raises JPY29bn its Second Solar Fund

Pacifico Energy K.K. has successfully completed the launch of its second solar investment fund (Fund II). Fund II will be comprised of five Japanese solar power plants totaling over 216 MWdc. Concurrent with the initial closing, Fund II completed the acquisition of its first solar plant, a 35 MW project located in Tochigi Prefecture and will acquire the remaining four solar plants next year.

Nomura Securities Co., Ltd., and Goldman Sachs Japan Co., Ltd. were the co-placement agents to Fund II, which successfully raised JP29 billion (US$264.75 million) from Japanese institutional investors. Baker McKenzie acted as legal counsel to Fund II.

Pacifico is also providing asset management services to these solar plants by deploying its knowledge and experience gained from the successful developing of the solar projects totaling over 1GWdc.

Fund II Overview:

Fund name: Pacifico Energy Solar Fund 2 Investment Business Limited Partnership

Origination Date: October 3, 2019

Investment Target: 5 operational solar power plants in Japan

Partners General Partners: Pacifico Energy Solar Fund 2 GK

Limited Partners: Japanese institutional investors

Subscription Amount: 29 billion yen

Investment Period: 21 years from the date of establishment