Investment of £29 million into two solar projects
Atrato Onsite Energy plc (ROOF), an investment company focusing on a clean energy generation, has announced two transactions for a combined consideration of £29 million. Both projects are expected to deliver long dated, highly visible, contracted cashflows with inflation linked uplifts.
London Road Energy Centre
The company has acquired a ready-to-build 28MW ground-mounted solar project in Wellingborough, Northamptonshire. The project has been acquired from Heliofidem UK, with energisation expected in Q4 2023.
The company has also signed heads of terms and an exclusivity agreement with a large multinational food and beverage company for the sale and purchase of electricity generation from this project via a sleeved power purchase agreement.
Huntapac Produce
The company also announces reaching financial close on a 1MW new rooftop solar project in Preston, Lancashire. The project has a 16-year PPA with Huntapac Produce, one of the largest vegetable producers in the UK. Energisation is expected in Q4 2023.
Gurpreet Gujral, Managing Director of Atrato Partners, the Investment Adviser to the company, says, “I am very pleased to announce these transactions. The London Road project is our largest single asset transaction to date, and will be Atrato Onsite Energy’s first sleeved PPA deal. Long dated sleeved PPAs with corporates are an exciting development in the UK solar sector and one from which ROOF is naturally very well positioned to benefit.”
