Atrato snaps up two UK solar projects
- Company bags 28MW as well as 1MW sites for ₤ 29m.
Atrato Onsite Energy plc (LSE: ROOF), the investment firm focusing on clean energy generation, has actually acquired 2 solar sites for a consolidated ₤ 29m. Both projects are anticipated to provide long dated, extremely visible, acquired cashflows with inflation linked uplifts.
The first is a ready-to-build 28MW ground-mounted solar project in Wellingborough, Northamptonshire, from Heliofidem UK, with energisation anticipated in Q4 2023.
Atrato has signed heads of terms and also an exclusivity agreement with a large multinational food and beverage company for the sale as well as acquisition of electrical power generation from this project through a sleeved power purchase agreement.
The 2nd site is a 1MW new roof solar project in Preston, Lancashire. The project has a 16-year PPA with Huntapac Produce, one of the biggest vegetable manufacturers in the UK. Energisation is expected in Q4 2023.
" I am very pleased to announce these transactions," said handling director of Atrato Partners, the company's investment advisor, Gurpreet Gujral.
" The London Road project is our largest single asset transaction to day and also will certainly be Atrato Onsite Energy's first sleeved PPA offer. Lengthy outdated sleeved PPAs with corporates are an amazing advancement in the UK solar industry as well as one from which ROOF is naturally extremely well positioned to benefit".
