Pacifico secures 35 million euros

The wind and solar park operator was able to secure debt capital with the help of a green bond, which is still a relatively new financial instrument.

Pacifico has received a green loan of 35 million euros from UBS Asset Management through a subsidiary. The financing is in the form of a green bond. This is basically a classic corporate bond, except that it is linked to sustainability criteria. Companies that issue such a bond therefore undertake to invest the money raised exclusively in projects that are climate-friendly, for example. The term of the loan is five years and an interest rate of 4.85 percent has been agreed.

Pacifico intends to use 26 million euros of the capital to refinance existing liabilities. The Group intends to use the remaining capital to expand its existing portfolio and finance future acquisitions. "We are proud to be able to realize a private placement of this size with a reputable investor like UBS Asset Management," says Co-CEO Martin Siddiqui. "This private placement shows that, as a young company, we are able to grow by utilizing different forms of financing."

Siddiqui and Christoph Strasser took Pacifico Renewables Yield AG public in 2019. The start-up is headquartered in Grünwald in Bavaria. The founders buy and operate smaller wind and solar parks throughout Europe. The start-up went public around two years ago.