Switching to solar power has numerous advantages, especially for institutions with high-energy needs like schools. Its benefits range from reducing the environmental impact of traditional energy sources to promoting sustainability and providing educational opportunities. This article explores these advantages in detail and explains why schools should consider installing solar panels. Through understanding the various state incentives and federal programs available, schools can make use of this renewable energy source while reaping numerous economic and environmental benefits. If you're interested in dipping your toes into the world of solar power, Pacifico can guide you through the journey towards a more sustainable future. Key Benefits of Solar Panels for Schools Investing in solar panels for schools is greatly beneficial. This isn't a trend that's solely based on environmental considerations, but rather, it's proving to be economically beneficial, lowering energy costs, reducing carbon footprints, promoting sustainability, and providing new educational opportunities.  Economic Advantages Educational institutions that install solar panels are taking advantage of the economic benefits that renewable energy sources offer. With solar panels, schools can tap into a clean power source that offers potential financial savings, even with the initial solar panels cost. Thanks to the falling prices of solar equipment, schools are finding it increasingly affordable to install solar panels. Furthermore, the long-term cost savings benefits far outweigh the upfront costs. When schools embark on solar installations, they essentially invest in a fixed-cost energy source, protecting the school from increasing traditional energy costs. Federal and state incentives further contribute to lowering the initial installation costs, helping the school to keep an eye on budgets without sacrificing quality of education. Lower Energy Bills Another key benefit of using solar power in schools comes in the form of lower energy bills. Installing solar panels on school buildings drastically reduces monthly utility payments. This can lead to substantial savings, considering the high-energy consumption in most educational institutions. Many schools also implement a solar array in combination with battery storage, thus efficiently managing energy use even during peak times. This is another effective way to control energy costs and even sell back excess energy to the grid, potentially creating an additional revenue stream. Interested in Solar? Work With Pacifico If your school is considering a switch to solar energy, working with the right solar partner is essential. Pacifico is committed to providing top-notch solar equipment and services to educational institutions across the nation. Our team of experts will walk you through every step of the process - from understanding your school's unique energy needs, to installing the best solar system, to optimizing its output and managing maintenance post-installation. Environmental Benefits By opting for solar installations, schools indirectly contribute to the fight against climate change. Switching to solar energy reduces dependence on fossil fuels, which are a leading cause of air pollution and climate change. By choosing renewable energy, schools take a proactive step towards reducing harmful emissions. This directly contributes to the school's standing as responsible community leaders, which in turn strengthens its reputation within the community. Reducing Carbon Footprint Installation of solar panels in schools reduces carbon footprint, allowing the institution to become part of the climate comedy rather than contributing to the climate crisis. Solar power doesn't release any carbon emissions, making it a great option for schools looking to reduce their impact on the environment. A solar school is a green school. Solar panels emit no greenhouse gases and don't deplete finite resources, emphasizing the institution's commitment to a brighter future. Promote Sustainability Schools that embrace solar energy not only promote sustainability within their environment but also raise awareness about the importance of renewable resources. Solar panels act as visible reminders of the urgent need to switch to cleaner energy alternatives. They send a strong and visible sign to students, families, and communities about the importance of environmental conservation. Educational Opportunities Beyond the economic and environmental benefits, installing solar panels provides an opportunity for experiential learning. It offers a practical way to illustrate the principles of science, technology, engineering, and mathematics (STEM), serving as a real-world classroom.  Teachers can design curriculum plans that incorporate solar energy concepts, broadening students' understanding of renewable energy and inspiring them to explore careers in this rapidly growing field. Incorporating solar panels into the school's curriculum allows students to learn about renewable energy while witnessing its impact firsthand. Power Up Your School With Pacifico At Pacifico, we are excited to help schools harness renewable energy by installing solar panels. Our team is committed to offering the lowest prices, all while ensuring the highest quality. If you're ready to invest in a solar PPA for your school, reach out to your solar partner at Pacifico. We'll guide you through the financing options and help create an energy strategy tailored to the unique needs of your school. Power up your school with Pacifico today and not only influence the minds of tomorrow, but our environment as well.

In today's evolving landscape, businesses are increasingly turning to solar Power Purchase Agreements (PPAs) as an efficient means to adopt renewable energy without the upfront costs of solar installations. However, choosing the right provider for a Commercial Solar PPA requires careful analysis, especially regarding scalability. As your business grows, ensuring that your solar PPA provider can scale operations effectively becomes crucial. Here are essential tips to consider while analyzing the scalability of commercial solar PPA providers: 1. Track Record and Experience Evaluate the track record and experience of the PPA provider in handling commercial-scale projects. A provider with a proven history of successfully managing and scaling solar projects for businesses can offer insights into their capabilities to accommodate your evolving energy needs. 2. Flexibility in Offerings Assess the flexibility of the PPA terms offered. A scalable PPA should accommodate the changing energy requirements of your expanding business. Look for providers who offer customizable agreements that can adapt to your increasing energy demands or changes in operational structure over time. 3. Financial Stability Scalability requires financial stability. Analyze the financial strength and credibility of the PPA provider. A financially secure provider is better equipped to invest in infrastructure, expand operations, and support your business's growth while ensuring uninterrupted solar energy supply. 4. Technological Advancements Explore the provider's commitment to technological advancements in solar energy. Scalable PPA providers often invest in innovative technologies that enhance energy production efficiency, storage capabilities, and grid integration. This commitment ensures your business benefits from the latest advancements as it expands. 5. Network and Partnerships Analyze the provider's network and partnerships within the solar industry. Collaborations with reputable entities signify the provider's ability to leverage resources, expertise, and networks, enabling scalability and offering additional value to your business. 6. Regulatory Compliance and Adaptability A scalable PPA provider should demonstrate a comprehensive understanding of regulatory compliance in the solar energy sector. Moreover, they should showcase adaptability to evolving regulatory frameworks, ensuring seamless compliance as your business expands geographically or structurally. 7. Client References and Testimonials Request client references or testimonials from businesses of similar scale or growth trajectory to yours. Insights from existing clients can offer valuable perspectives on how the provider supports scalability and handles growing energy demands. Overall, Selecting a commercial solar PPA provider capable of scaling with your business's growth is a strategic decision. By analyzing these critical factors, businesses can ensure a seamless transition to sustainable and scalable solar energy solutions. At Pacifico, we prioritize scalability in our solar PPA offerings, empowering businesses to expand while maintaining reliable and cost-effective solar energy access. Ready to explore scalable solar PPA solutions for your growing business? Contact Pacifico today to discuss how our tailored PPA plans can support your sustainability goals and evolving energy needs.

The first decade of service from your PV system may have been remarkable—with California’s ample sunlight providing a better way to power your building. But, after the initial excitement, you may have noticed your system's efficiency has decreased over time. Sound familiar? You're not alone in your frustration. In fact, many business owners are facing the same dilemma. This problem is a result of commercial solar depreciation, which occurs when the value of your PV systems drops. While not ideal, it’s not necessarily all “bad news” either;. There are a few strategies to make the most of your stranded assets. So, what can you do? Better yet, where should you even start? In this blog, we'll explore the ins and outs of commercial solar depreciation, including how it works, why it happens, and what you can do to maximize the value of your solar investment. Let’s get started! What Is Solar Panel Depreciation? Depreciation is commonly defined as “the process of an asset losing value over time, due to wear, tear, and other factors.” Solar panel depreciation is the decrease in value of a PV system over time. The rate of commercial solar depreciation is dependent on a few various factors, like: Type of panel Location Usage Age Commercial solar depreciation can impact a business's financial standing and overall investment in renewable energy. How Does Commercial Solar Depreciation Work? At its core, the commercial solar depreciation process follows the same principles as any other depreciable asset. Generally speaking, solar panels and related equipment depreciate over a longer period of time, usually five to seven years. Is Commercial Solar Depreciation Inherently Bad? Honestly, it depends. While it’s definitely inconvenient for your assets to lose value, there are a few precautions you can take to soften the blow. If your PV system is approaching the end of its lifespan, consider reaching out to a professional solar provider. They’ll assess your panels using the Modified Accelerated Cost Recovery System (MACRS)—a method for depreciating assets over a set period. With these findings, you’ll be able to understand the severity of solar panel depreciation and life expectancy left. From there, a professional will take into account the service life left for your panels, the cost of the panels, and the salvage value of the panels at the end of their useful life—which brings a few financial advantages. For example, if your company invested in a solar panel system for $100,000, and the IRS determines the useful life of the system to be seven years, your company can depreciate the system at an annual rate of approximately $14,286. Simply put, commercial solar depreciation can be used to offset taxable income, resulting in a significant tax benefit for your company. Is your PV system approaching the end of its lifespan? Schedule an assessment with the experts at Pacifico. We’ll put you in better financial standing. How Does Depreciation Impact Commercial Business? The impact of solar panel depreciation on commercial businesses is two-fold. And yes, while tax breaks are advantageous, the overall impacts of stranded solar assets spell bad news. Here’s why. Lower ROI: When the solar panels and related equipment depreciate over time, their value decreases, which can impact the return on investment (ROI) of the solar energy system. Loss of Benefits: Currently, the federal government offers several different incentives for businesses that invest in solar power. One of these incentives is the Investment Tax Credit (ITC). However, the ITC is only available in the year that the panels are installed, so if the panels depreciate too quickly, your business may not be able to take full advantage of the credit. Decreased NEM Returns: Net metering programs (NEM) deliver “cash back” for the extra energy your PV system generated. Unfortunately, as solar panels lose efficiency over time, you won’t be able to sell as much excess energy back to the utility provider. This decreases your supplemental revenue stream. Budgeting Complications: The loss of supplemental revenue associated with commercial solar depreciation often impacts your ability to accurately predict energy costs. Lower Resale Value: As PV panels lose efficiency over time, they become less valuable on the secondary market, making it harder to recoup as much of your initial investment as hoped. Exchange Your Stranded Solar Assets for Extra Capital All good things must come to an end, and PV systems are no exception. Depreciated solar panels often fall beyond the point of repair, becoming “stranded.” Instead of letting these assets go to waste, however, what if you could flip them for profit? At Pacifico Power, we buy stranded solar assets to give commercial businesses another opportunity to earn value from their investment. Get in touch today and discover how simple it is to put cash back into your pocket. Save Money in the Long Run by Accounting for Solar Panel Depreciation Now At Pacifico Power, we understand the complexities of commercial solar energy systems, including depreciation. We’re committed to helping California businesses navigate the complexities of solar panel depreciation, develop customized solutions to help achieve your sustainability goals—all while saving money in the long-run.

Solar power potential is a hot topic amongst business leaders looking to reduce their carbon footprints, lower operational expenses and make sustainability a core aspect of their business strategy. But how does this investment translate into returns and is it financially viable for your establishment? In this comprehensive guide, we explore solar energy potential, its benefits for businesses, and a step-by-step guide on how you can calculate your potential solar panel return on investment (ROI). The Potential of Solar Energy ROI for Businesses Solar energy is becoming a key player in the business world. As we seek sustainable and cost-effective energy solutions, the appeal of solar power grows. This section explores the potential financial benefits, or solar panel ROI, businesses can achieve by switching to solar energy. Understanding the potential of solar energy begins with recognizing how it reduces utility bills and qualifies for incentives. Solar energy isn't just about being green; it's also about making green. Let's dive into what makes solar energy a wise investment for businesses. Understanding Solar Energy Potential Solar energy potential is immense. It's about harnessing the power of the sun to generate electricity, reduce energy costs, and decrease dependency on non-renewable energy sources. When we speak of solar panel efficiency, we're referring to how well these panels convert sunlight into electricity. Several factors can affect a solar panel's efficiency, such as the type of solar cells used and the panel's placement. Optimal efficiency means more electricity generated and a quicker solar panel payback period for businesses. The Importance of Solar Energy for Businesses Solar energy offers businesses a chance to reduce their carbon footprint, enjoy lower energy bills, and potentially earn money back by selling excess energy back to the grid. It's an opportunity to demonstrate corporate responsibility while making a smart financial choice. Moreover, investing in solar panels can significantly improve a business's public image. Customers increasingly prefer to support environmentally friendly businesses. Plus, solar incentives and federal tax credits can reduce the initial cost of solar panel systems, enhancing their appeal. Step-by-Step Guide to Calculating Potential Solar Panel ROI Step 1: Evaluating Your Business's Energy Consumption The first step in calculating solar panel ROI is understanding your business's energy consumption. Look at your utility bills over the last year to gauge how much energy you use and what it costs. This information is vital for determining the size of the solar system needed. Consider your business's operation hours, energy usage patterns, and any planned expansion. These factors will help you estimate future energy needs. A larger initial investment might be justified if it means meeting increased future energy demands efficiently. Step 2: Understanding Solar Panel Efficiency Solar panel efficiency is a key factor in calculating solar ROI. It determines how much sunlight your solar panels can convert into usable electricity. Higher efficiency rates usually mean better performance, but they also come with higher initial costs. When selecting solar panels, consider the balance between efficiency and cost. Sometimes, opting for the most efficient panels available makes sense, especially if your business has limited space for installation. Step 3: Cost-Benefit Analysis: Solar Panel Installation & Maintenance To determine if solar panels are worth the investment for your business, you'll need to compare the initial installation costs and ongoing maintenance with the expected energy savings over time. Factor in any available solar incentives or tax credits to reduce the upfront costs. Consider the solar panel system's lifespan, typically around 25-30 years, to calculate long-term savings. Also, estimate the increase in property value due to the solar installation. These savings numbers help depict a clearer picture of the potential ROI. Once you've done the math, you might find that solar panels offer a good ROI for your business, reducing your annual energy costs significantly. For personalized advice and a free estimate on solar panel installation, consider reaching out to a professional solar panel installer. Interested in Solar Panel Installation? Get in Touch With the Team at Pacifico At Pacifico, we specialize in helping businesses like yours make the transition to solar energy. Our team can provide you with a detailed analysis of your business's energy needs and potential solar energy savings along with a wide range of financing options to explore. If you're considering solar panels for your business and want to calculate the potential ROI, contact us today for a free estimate. Factors Affecting Solar Panel ROI Understanding the factors that impact the return on investment (ROI) for solar panels can help you make a more informed decision about whether solar power is a good investment for your business. These factors include geographical location and available solar resources, financial incentives and policies related to solar energy, and your business's specific energy usage patterns.  By taking these elements into account, you can better estimate the payback period and overall savings potential of installing a solar energy system. This will ultimately help you determine how quickly you can expect to make your money back and start saving on your energy bills.  Geographic Location and Solar Resource The geographic location of your business plays a significant role in determining the efficiency and effectiveness of a solar panel system. Not all regions receive the same amount of sunlight, affecting how much power your panels can generate and, subsequently, the potential savings on your utility bills. For instance, solar panels in sunny states like California or Arizona will typically generate more electricity than those in less sunny locations such as Oregon or Washington.  Furthermore, the orientation and angle of your solar panels can also affect their performance. Panels positioned to receive the maximum amount of direct sunlight throughout the day will produce more energy, leading to greater savings and a shorter solar payback period. Thus, it's essential to consider the specific solar resource available to your location when calculating your potential solar panel ROI.  Financial Incentives and Policies Various incentives and policies can significantly affect the total cost and potential savings of installing a solar panel system. These may include federal tax credits, state-level incentives, and utility company rebates that can reduce the initial cost of solar panel installation. Federal Tax Credit: The solar tax credit allows you to deduct a percentage of the cost of installing a solar energy system from your federal taxes, effectively reducing your initial investment cost. State Incentives: Some states offer additional tax credits, rebates, or other incentives for businesses that install solar panels, further lowering the upfront costs. Utility Rebates: Certain utility companies provide rebates to customers who produce their own solar power, contributing to the lifetime savings of the system. Understanding and taking advantage of these financial incentives can noticeably decrease your solar panel system's payback period and improve your ROI. Be sure to research and apply for all applicable incentives in your area.  The Effect of Your Business's Energy Usage Your business's current energy consumption is another critical factor in determining the potential ROI of a solar panel system. Businesses with higher energy usage will likely see faster payback periods, as the savings on utility bills will be more substantial. It's important to assess your energy needs accurately and consider how a solar power system can offset your annual energy cost. Installing a solar system that matches your energy consumption can maximize your energy savings and significantly impact your solar panel ROI. Additionally, any excess energy your solar panels produce can often be sold back to the utility grid, potentially providing another source of savings or income.  Conclusion: Is Solar Energy Investment Worth It for Your Business? Determining whether investing in solar energy is worth it for your business depends on several factors, including those discussed above. The potential for substantial energy savings, reduced utility bills, and incentives that lower the initial cost all contribute to a potentially good ROI on solar panel investments. However, the specifics of your situation—such as your geographic location, available incentives, and energy usage—will ultimately dictate the precise benefits you can expect.  By carefully considering these variables and calculating your potential solar panel payback period and savings, you can make an informed decision about moving forward with solar energy. For many businesses, the long-term savings, environmental benefits, and reputation for sustainability make solar panels a worthwhile investment.  Find Out Your Solar Viability With Pacifico If you're interested in exploring solar energy for your business but unsure where to start, Pacifico Power can help. Our team of experts can demystify unfamiliar subjects, guide you through your options, and provide a free estimate tailored to your business's specific needs and circumstances. We specialize in making the transition to solar power as seamless and profitable as possible, ensuring you get the best possible ROI from your solar panel system.  Together, let's harness the power of the sun to not only power your business but also to contribute to a greener future. Contact Pacifico Power today to find out how solar panels could be a good investment for your business.

In today's rapidly evolving business landscape, the shift towards renewable energy sources like solar power has become increasingly imperative. For businesses looking to harness the benefits of solar energy, choosing the right financing model is paramount. While various options exist, understanding the intricacies of each can be complex. Let's explore different solar financing models tailored to businesses and provide valuable insights to help you make informed decisions. Understanding Commercial Solar Financing Models When considering solar financing options , businesses typically have four primary models to choose from: 1: Solar Leases Solar leases involve a third-party entity installing solar panels on your property and leasing the system back to you for a fixed monthly payment. This arrangement usually requires minimal upfront costs and includes maintenance services. While leases offer immediate cost savings on energy bills, businesses may miss out on ownership benefits and tax incentives. 2: Solar Loans Solar loans provide businesses with upfront financing to purchase a solar energy system outright. Repayment occurs over a fixed term with interest. By owning the solar system, businesses can benefit from tax incentives like the Federal Investment Tax Credit (ITC) and maximize long-term savings. However, upfront costs and loan terms should be carefully evaluated. 3: Power Purchase Agreements (PPAs) PPAs involve a third-party developer installing and maintaining solar panels on your property. Businesses purchase the electricity generated by the system at a predetermined rate, typically lower than utility rates. PPAs offer immediate savings on energy costs without the burden of system ownership or maintenance, making them an attractive option for many businesses. Interested in a PPA? Reach out to the team at Pacifico today. We offer a wide variety of financing options that can kickstart your business's journey to solar. 4: Solar PACE (Property Assessed Clean Energy) Financing: Solar PACE financing allows businesses to finance solar energy projects through property tax assessments. Repayments are made over a fixed term through property tax bills. PACE financing is tied to the property rather than the business, making it an appealing option for spreading out costs over time and transferring the obligation to future property owners. Tips for Choosing the Right Financing Model Now that we've examined the various financing models, let's review how to choose the right one for your needs. 1: Assess Financial Goals Evaluate your business's financial goals, including budget constraints, desired returns on investment, and cash flow preferences. Determine whether you prioritize immediate cost savings, long-term ownership benefits, or a balance of both. 2: Evaluate Tax Benefits Understand the tax incentives available for each financing model, such as the Federal Investment Tax Credit (ITC), depreciation benefits, and state/local incentives. Choose a financing model that allows you to maximize tax benefits and optimize long-term savings. 3: Review Contract Terms Thoroughly review the terms and conditions of each financing agreement, including lease terms, loan interest rates, PPA rates, and PACE financing terms. Pay attention to factors such as escalation clauses, buyout options, and performance guarantees to ensure alignment with your business objectives. 4: Consider Long-Term Impact Evaluate the long-term impact of each financing model on your business, including potential resale value, scalability, and flexibility. Choose a financing model that aligns with your business's growth trajectory and sustainability goals. 5: Consult With Solar Experts Seek guidance from experienced solar energy providers or financial advisors who specialize in commercial solar financing. Discuss your business's specific needs, objectives, and preferences to receive tailored recommendations and expert insights. Overall, choosing the right commercial solar financing model is a pivotal decision that can significantly impact your business's financial performance and sustainability. By understanding the nuances of each financing option, assessing your financial goals, and seeking expert advice, businesses can make informed decisions that drive success in their solar energy investments. Ready to explore commercial solar financing options tailored to your business? Contact Pacifico Power today for expert guidance and customized solutions that empower your journey towards a sustainable future.

On April 3, 2024, in Ben Tre province, leaders of Vietnam PE Company had a meeting with Ms. Susan Burns, U.S. Consul General in Ho Chi Minh City. The meeting was within the framework of the Consul General's business trip to Ben Tre to discuss with provincial leaders about investment activities of U.S. businesses in the area, to discuss with provincial leaders about investment activities. investment from U.S. businesses in the area, including the development of renewable energy in the province. At the meeting, Mr. Pham Quoc Anh, General Director of PE Vietnam updated the company's activities in Vietnam, including the Sunpro Ben Tre 8 onshore wind power project with a capacity of 30 MW and the offshore wind power project. Regarding the onshore wind power project in Binh Dai district, Ben Tre province, Mr. Pham Quoc Anh said, the project will start construction in March 2021. After being put into operation, the factory's expected production output is The electricity capacity is over 87 GWh/year, twice the electricity demand of Binh Dai district. Currently, the Project Management Board and PE Vietnam leaders are making every effort to put the project into operation as soon as possible. U.S. Consul General Susan Burns highly appreciated the efforts, perseverance and determination of the investor as well as the staff of PE Vietnam to achieve the goal of bringing the project to an early finish line. Ms. Susan Burns affirmed that the U.S. Consulate General has been and will continue to support PE Vietnam and the Sunpro project, with the hope that the success of the project will contribute to the goal of providing green energy to serve growing demand from FDI enterprises. From there, contribute to attracting high-quality investment to Ben Tre province as well as to Vietnam, in the context that the United States and Vietnam have just upgraded their relationship to a Comprehensive Strategic Partnership. As for the offshore wind power project, Mr. Pham Quoc Anh said, this is a project worth billions of dollars implemented through international cooperation between PE Vietnam and Vietnamese businesses and international partners. other international. In response, the U.S. Consul General highly appreciated this idea and expressed support for PE Vietnam and future partners. With this project, U.S. Government agencies such as DFC (Development Finance Corporation) and USTDA (United States Trade and Development Agency) have expressed their interest and willingness to support the project. Previously, in September 2023, Mr. Nate Franklin, Chairman of PE Group/PE Vietnam and Mr. Pham Quoc Anh, General Director of PE Vietnam had a meeting and discussed with Prime Minister Pham Minh Chinh about developing Developing renewable energy projects in Vietnam. At this meeting, PE Vietnam leaders shared with the Prime Minister the idea of ​​developing offshore wind power projects. Prime Minister Pham Minh Chinh highly welcomed and encouraged new investment ideas and plans of PE Group/PE Vietnam, and committed to accompany, support and create all favorable conditions for PE Group/PE Vietnam. Nam and his partners deploy effective, successful and sustainable business investment activities in Vietnam.

From March 18-21, 2024, Mr. Pham Quoc Anh, General Director of Pacifico Energy and Ms. Mary Tarnowka, Senior Advisor, represented Pacifico Energy to attend the Business Delegation organized by the American Business Council - ASEAN (USABC) held in Hanoi. This is the largest U.S. business delegation to Vietnam after the two countries upgraded their relationship to a Comprehensive Strategic Partnership. The delegation includes 50 leading U.S. companies, operating in many fields such as technology, energy, aerospace and defense, manufacturing, agriculture and food, financial services, healthcare, and private investment funds. Within the framework of the business trip, the delegation met with senior Vietnamese officials and ministries and branches. Including important meetings with Prime Minister Pham Minh Chinh, Chairman of the National Assembly Vuong Dinh Hue, Minister of Planning and Investment Nguyen Chi Dung, Minister of Industry and Trade Nguyen Hong Dien, Minister Ministry of Information and Communications Nguyen Manh Hung, Deputy Minister of Public Security Lieutenant General Luong Tam Quang, Deputy Head of the Central Economic Commission Nguyen Hong Son, Deputy Minister of Transport Le Anh Tuan, Deputy Governor of the State Bank Vietnam Pham Tien Dung, Deputy Minister of Culture, Sports and Tourism Ho An Phong, Chairman of Vietnam Electricity Group Dang Hoang An. Participating in the delegation, Pacifico Energy representatives brought the message that a leading U.S. renewable energy corporation in Vietnam is aiming to expand investment here, in order to realize the Comprehensive Strategic Partnership (CSP) U.S.-Vietnam Strategy. Clean energy is increasingly becoming a requirement not only for the semiconductor industry but also for advanced manufacturing and multinational companies in general. Expanding investment in renewable energy in Vietnam will help promote energy security, create the necessary infrastructure to attract high-quality investment, and support sustainable development goals for Vietnam's net emissions. In particular, at the meeting with Prime Minister Pham Minh Chinh, Pacifico representatives expressed their appreciation for the Prime Minister's instructions and continuous support to create a favorable legal environment for renewable energy projects creation, including allowing direct Power Purchase Agreement mechanisms between private companies and capital-mobilizing Power Purchase Agreements with Vietnam Electricity. In addition, Pacifico representatives proposed creating a favorable legal environment to attract and maintain investment in the field of renewable energy. In addition to Pacifico, U.S. companies are also committed to long-term cooperation and support of Vietnam's ambitious goals such as digital transformation, green transformation to achieve zero emissions goals and enhance the position of Vietnam, position in the global supply chain through infrastructure, workforce and production development.

A completion ceremony was held at Pacifico Energy Sanda Mega Solar Power Plant on April 11, 2024. The completion ceremony was attended by Juwi Shizen Energy (design and construction) and other business partners and local stakeholders. Pacifico Energy Co., Ltd. Public Relations PR@pacificoenergy.jp

Pacifico Energy Co., Ltd. has completed its application for registration as a retail electricity business as of today. Until now, our company has specialized in power generation business development, but in 2024 we will open a power trading department and begin delivery services primarily for large-scale customer customers. Going forward, we will leverage our group's internal knowledge to the fullest and provide differentiated, cost-competitive solutions and high value-added services to revitalize the electricity market, secure liquidity, and promote renewable energy. We will contribute to the spread of clean energy across the country. Pacifico Energy Co., Ltd. President and Representative Director Daiki Matsuo

30MW demonstrator will be among the deepest anywhere in the world Follows competitive process administered by Japanese Government Consortium features SSE Pacifico, alongside Marubeni and other partners SSE Renewables entered the Japanese market in 2021 when it signed an agreement with Pacifico Energy Demonstrator is first consented project in which SSE will be involved in emerging Japanese offshore wind market A development consortium in which SSE Pacifico is a member has been awarded public funding for a circa 30MW floating offshore wind demonstration project in Japan. The news comes following a competitive process under the Green Innovation Fund (GIF), established by the Japanese Ministry of Economy, Trade and Industry (METI), and announced by New Energy and Industrial Technology Development Organization (NEDO) which administers the fund. The winning consortium's bid is one of two to have been selected under the competitive process. Up to 85 billion yen (circa £420m GBP) in public funding will be provided and is expected to be evenly split between the two successful projects. The funding will be awarded in phases as each project reach key development milestones. SSE Pacifico, which is 80% owned by SSE, is partnering with development consortium lead Marubeni Offshore Wind Development (MOWD) and other local partners in the successful bid. The demonstrator is the first consented project in which SSE will be involved in the emerging Japanese offshore wind market.  Located off the southern coast of Akita Prefecture in the north of Honshu, Japan's main island, the demonstration project would be developed in water depths of up to 400 metres, making it one of the deepest offshore development sites in the world. The consortium plans to develop two circa 15MW demonstrator offshore wind turbines to be deployed with semi-submersible floating foundations. The consortium will now work on progressing the project subject to reaching key milestones. If it proceeds to construction, the project would help pave the way to future growth in Japan's and international floating offshore wind development in deep-sea areas. Success in this bid process will allow SSE Pacifico, alongside key development consortium partners, to build a greater understanding of deploying floating offshore wind energy technology in Japan, a key target market for offshore wind growth with the world's sixth (*1) largest seabed area. Dai Karasawa, President of SSE Pacifico , said: "We're delighted our consortium has been successful in the GIF auction in Japan. This demonstration project will play a critical role in enhancing real world knowledge about deploying floating wind at such depths, not only in Japan but globally. It further enhances SSE's standing in floating wind technology and builds on our strong collaboration with Marubeni on the Ossian floating wind project in the UK." Japan's Green Innovation Fund (GIF) has been established to support the country's goal of achieving carbon neutrality by 2050, while accelerating the transition to a sustainable, low-carbon economy and enhancing Japan's competitiveness in the global market. The GIF provides financial support for businesses and projects that focus on innovative technologies and solutions to reduce greenhouse gas emissions. The fund targets various sectors, including renewable energy, energy efficiency, and sustainable industrial processes. The GIF also aims to foster research and development, demonstration projects, and the commercialisation of new technologies up to FY 2030. The research focus of the consortium's project is to optimise the business development, EPCI (Engineering, Procurement, Construction, and Installation), and O&M (Operation and Maintenance) processes as a demonstration project, aiming at mass production and cost reduction of floating offshore wind power generation in Japan. (*1) The number includes exclusive economic zone. Source:  SSE Renewables

Industry Minister Ahn Duk-geun speaks during a reception in Washington on June 26, 2024 (U.S. time), in this photo released by the Ministry of Trade, Industry and Energy. Seoul / Washington (June 26, 2024)  -- South Korea's industry ministry said Wednesday the country has secured US$610 million worth of investment from three U.S. companies, in a move expected to further bolster bilateral ties in emerging industries and the global supply chain. The three companies -- On Semiconductor Corp., Corning Inc., and  Pacifico Energy  -- confirmed their investment plan during a visit by Industry Minister Ahn Duk-geun to Washington, according to the Ministry of Trade, Industry and Energy. "The investment proves global firms' unwavering confidence in South Korea's potential in cutting-edge industries and the energy sector," Ahn said in a statement. "The government will spare no effort to support follow-up measures so that the investment can lead to cooperation in the cutting-edge supply chain and energy security between South Korea and the U.S.," Ahn added. In detail, On Semiconductor, which has global carmakers as key clients, plans to expand its production line launched in South Korea in October that produces silicon carbide (SiC) wafers with the investment. Corning, a specialty glass maker, also plans to upgrade its production facility in Asan, 107 kilometers south of Seoul, to adopt next-generation processing technologies. Pacifico Energy will seek to establish a major offshore windmill complex with a capacity of 3.2GW near the southwest coast, which would mark a symbol of bilateral ties in clean energy when completed, the ministry added. Ahn was visiting Washington to participate in a trilateral ministerial meeting with the U.S. and Japan to discuss ways of strengthening three-way cooperation on supply chains and economic security. Source:  Naver.com

(from left) Dukryul Park, director general for cross-border investment policy at the Ministry of Trade, Industry, and Energy of South Korea; Seung-Jun Lee, head of project development at Pacifico Energy Korea; William Nathan Franklin, CEO and chairman of Pacifico Energy Group; Duk-geun Ahn, minister of trade, industry and energy of South Korea; Seung-Ho Choe, representative director of Pacifico Energy Korea; Mary Tarnowka, strategic advisor of Pacifico Energy Group; and Tae Hyung Kim, commissioner of Invest Korea of the National Investment Promotion Agency pose for a photo together at an investment declaration ceremony in Washington, D.C. on June 26 (local time). Washington D.C., USA (June 28, 2024)  –  Pacifico Energy  signed an investment declaration (“Investment Declaration") worth several hundred billion Korean Won during an “Investment Declaration Ceremony" held by South Korea's Ministry of Trade, Industry and Energy (MOTIE) in Washington, D.C. This investment will be fully allocated to the 420 MW Myeong Ryang Offshore Wind Project, which Pacifico Energy Korea is developing in Jindo County in South Jeolla Province, and to the development of the domestic offshore wind supply chain in South Jeolla Province. The Investment Declaration Ceremony was held on June 26, 2024 at the Westin Georgetown Hotel in Washington D.C.  The ceremony was attended by Ahn Duk-geun, South Korea's Minister of Trade, Industry and Energy; William Nathan Franklin, President and CEO of Pacifico Energy; and Seung-Ho Choe, Representative Director of Pacifico Energy Korea. At the ceremony, Pacifico Energy submitted its Investment Declaration to the South Korean Minister of MOTIE. Pacifico Energy has now become the first U.S.-based renewable energy company to commit to a large-scale investment in the Korean offshore wind sector. The successful completion of the Myeong Ryang Offshore Wind Project with this investment will represent a significant milestone for the Korea-U.S. partnership in accelerating the green energy transition. Pacifico Energy is a U.S.-based renewable energy company specializing in the development of solar, wind, hydrogen, and energy storage system projects in the U.S. and the Asia-Pacific region. Since 2012, Pacifico Energy has accelerated the “green transition" of the emerging Asia-Pacific market with a market-leading presence in Korea, Japan, and Vietnam. In the Asia-Pacific region alone, Pacifico Energy has over 1.5 GW of renewable energy projects in operation or under construction, along with a pipeline of over 10 GW of offshore wind projects under development. In 2018, Pacifico Energy established its Korean subsidiary, Pacifico Energy Korea, signaling its entrance into the Korean renewable energy development market. Pacifico Energy Korea is developing a 3.2 GW offshore wind project cluster in Jindo County, South Jeolla Province, one of the largest offshore wind project clusters of its kind in the Asia-Pacific region. William Nathan Franklin, CEO and Chairman of Pacifico Energy, said: “We are optimistic about the green transition in the Asia-Pacific region and the future of offshore wind in South Korea. South Korea holds significant potential to become an 'offshore wind hub' in the Asia-Pacific region. Leveraging the Korea-U.S. partnership to accelerate the green energy transition, Pacifico Energy is making substantial investments in the 3.2 GW Jindo Offshore Wind Projects Cluster, including the Myeong Ryang Offshore Wind Project and the development of the offshore wind supply chain in South Jeolla Province, which will contribute to South Korea's goal of being carbon neutral by 2050." Seung-Ho Choe, Representative Director of Pacifico Energy Korea, stated: “With this investment declaration, we aim to accelerate the Myeong Ryang Offshore Wind Project and spearhead the development of the offshore wind industry in South Jeolla Province and Jindo County. As a leading renewable energy developer in the Asia-Pacific region, Pacifico Energy is dedicated to establishing and strengthening collaborations with South Korean suppliers to develop a robust offshore wind supply chain in South Jeolla Province. We remain committed to supporting South Korea's efforts to enhance its position in the Asia-Pacific offshore wind industry." Pacifico Energy Korea's 3.2 GW offshore wind project cluster consists of three offshore wind projects: Myeong Ryang Offshore Wind (420 MW), Manho Offshore Wind (990 MW), and Jindo Baram Offshore Wind (1.8 GW). The Myeong Ryang Offshore Wind Project, as the first phase of the overall cluster, is currently undergoing the Electricity Business License application process. Myeong Ryang Offshore Wind will undertake a geotechnical survey, an environmental impact assessment (EIA), and seek permission for the occupation and use of public waters after obtaining an Electricity Business License. Pacifico Energy Korea expects to commence construction in 2025 and commercial operation by 2032. Source:  Businesskorea.co.kr