Linklaters has advised Pacifico Renewables Yield AG on the debut issuance of a green loan

Linklaters has advised Pacifico Renewables Yield AG („Pacifico“), a listed company and independent producer of electricity from renewable sources, on a €35 million green loan. The secured loan  was issued by way of private placement with UBS Asset Management. The proceeds of the groan loan will be used to refinance existing debt and to optimize the Group’s capital structure as well as to finance the further build-out of the Group’s existing portfolio and new acquisitions.

The loan marks Pacifico’s first placement under its newly established „Green Finance Framework“ (the „Green Framework“). The Green Framework sets out how Pacifico and its subsidiaries may apply proceeds of raised funds, including eligibility criteria, management of proceeds, evaluation and selection criteria as well as its commitments to annual reporting and external verification. The Green Framework has received a second party opinion by ISS ESG which found that it is in full alignment with both the ICMA Green Bond Principles and the EU Taxonomy.

Pacifico is an independent power producer with its seat in Grünwald, near Munich in Germany. The stock corporate operates a diversified portfolio consisting of onshore wind and solar parks which an aggregate capacity of currently 166 MW. The individual onshore wind and solar parks have an operating capacity of up to 33,3 MW each and are located in Germany, Poland, the Netherlands, Czech Republic and Italy. The majority of installations is already operational.

The Linklaters team was led by Przemyslaw Lipin (Managing Associate, Banking). Additional team members are Matthias Hohmann and Lukas Wascheck (both Associate, Banking; everyone is based in Frankfurt).