Pacifico Energy Partners and Eiffel Investment Group have pooled their resources in a dedicated joint venture to accelerate the development of agrivoltaic projects in Italy. The joint venture is focused on the development of a portfolio of agrivoltaic projects in Italy, primarily in the Lazio region and totalling 300MW. Pacifico will contribute projects at mid-stage development and Eiffel will finance this phase to obtain the necessary permits and authorisations through bridge equity financing. Pacifico will then drive the development process until the projects are ready-to-build, at which point the joint-venture may sell the assets. Eiffel will invest up to €20m in the portfolio via Eiffel Transition Infrastructure, its new bridge equity fund launched earlier in November 2022 and dedicated to the financing of the development of renewable energy projects. Jannik Hoffmann, Chief Financial Officer at Pacifico, said: “The partnership with Eiffel allows Pacifico Energy Partners to focus on what we are best at – identifying the best projects and delivering them.
We are committed to making a sizable impact towards a clean energy future and are particularly delighted to broaden our cooperation with Eiffel, a financing party which we have already successfully worked with in past transactions.” Pierre-Antoine Machelon, Managing Director at Eiffel Investment Group, said: “We are very excited about this partnership with Pacifico Energy Partners. “This inaugural transaction for Eiffel Transition infrastructure will accelerate the deployment of additional renewable energy capacity by bringing much-needed equity in the early phase of the projects and leveraging Pacifico’s strong experience of PV development.”