Atrato Onsite Energy plc (LSE: ROOF), the investment company focusing on clean energy generation, has acquired two solar sites for a combined £29m. Both projects are expected to deliver long dated, highly visible, contracted 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 expected in Q4 2023.
Atrato has 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.
The second site is 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.
“I am very pleased to announce these transactions,” said managing director of Atrato Partners, the company’s investment adviser, Gurpreet Gujral.
“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”.