Pacifico Energy has successfully completed the launch of its first solar investment fund — which is comprised of five Japanese solar power plants totaling over 100 MW. Image: Pacifico Energy
Pacifico Energy raises US$141 million in first solar fund
Pacifico Energy has successfully completed the launch of its first solar investment fund — which is comprised of five Japanese solar power plants totaling over 100 MW.
Mitsubishi UFJ Morgan Stanley Securities was financial advisor to the Fund, which successfully raised US$141 million from Japanese institutional investors. The Fund has already secured the acquisition of three PV projects in Chiba and Miyagi prefecture and is in process of acquiring two other solar plants in the country.
Pacifico will also offer its asset management services to these solar plants by deploying its knowledge and experience gained from developing solar projects totaling over 640MW.
UN develops PV-powered refugee camp in Jordan
The United Nations High Commissioner for Refugees (UNHCR) and the IKEA Foundation came together last year to launch the first solar-powered refugee camp in Jordan.
The 2MW PV project will produce 3.6 million kWh annually — saving 2,370 tons of CO2 emissions, equivalent to the carbon sequestered by 65,568 tree seedlings grown for 10 years.
Per Heggenes, CEO of the IKEA Foundation, said: “The world’s first solar farm in a refugee camp signals a paradigm shift in how the humanitarian sector supports displaced populations. UNHCR Jordan will save millions of dollars, while reducing carbon emissions and improving living conditions for some of the world’s most vulnerable children and families.”
Sri Lanka signs framework deal on International Solar Alliance
Chitranganee Wagiswara, the High Commissioner for Sri Lanka in India, has signed the framework agreement of the International Solar Alliance (ISA) at the Ministry of External Affairs of India in New Delhi, per The Sunday Leader.
Once the agreement is ratified, Sri Lanka will become a founding member of the International Solar Alliance.
The ISA was conceived following the 2015 Paris Agreement as a coalition of solar-resource-rich countries that can address their special energy needs and provide a platform to partner on issues by achieving a common goal.
Solar & Storage Finance Asia returning to Singapore for its 5th edition, will be the meeting point for developers, financiers and investors across the region. Explore in depth the opportunities of the different countries via case studies, business and financial models that will foster growth in the region with particular focus on Thailand, Philippines, Indonesia, Taiwan, Korea, Cambodia, Singapore, Malaysia & Vietnam. The programme has been designed to enable you to win business and understand new opportunities in the market. Key topics include floating solar, project finance for PPAs, modernization of the grid and strategies for structuring and designing hybrid deals.