DGAP-Adhoc: Pacifico Renewables Yield AG: Purchase agreement for the sale of the Czech portfolio with a total capacity of 7.5 MW signed

Pacifico Renewables Yield AG: Purchase agreement signed for the sale of the Czech portfolio with a total capacity of 7.5 MW

Grünwald (July 8th, 2022/21:50) Pacifico Renewables Yield AG (the group, ISIN: DE000A2YN371, Düsseldorf Stock Exchange: PRY) today signed four share purchase agreements through its subsidiaries for the sale of its Czech portfolio, consisting of four solar parks with an installed capacity of total 7.5 MW, signed. The four solar parks represent the entire operational business activities of the group in the Czech Republic.

The share purchase agreements, including senior project financing and lease liabilities, are based on an enterprise value of the four parks totaling approximately 20 million. The completion of the transaction is subject to customary closing conditions and is expected in the near future. Proceeds from the sale of the group’s Czech portfolio are expected to enable acquisition of initial projects in the UK and potential entry into the battery storage market.

On the occasion of the sale, the Management Board lowered its sales forecast for the 2022 financial year from 33.0 million to 43.0 million to 30.0 million to 40.0 million. This adjustment is based on (i) the deduction of the expected sales of the Czech portfolio, (ii) Group-wide production figures in the year to date in line with expectations in connection with high electricity prices, (iii) the possibility of continued high electricity prices, (iv) no reinvestment of the disposal proceeds and (v) the assumption that no further acquisitions will be made.

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