Renewables investment trust Atrato Onsite Energy has acquired the 20MW solar project to be built at the Nissan car plant in Sunderland, England.
The deal will see Atrato acquire development company Hylton Plantation Solar Farm in a £10.6m transaction.
The behind-the-meter private wire solar installation will us around 37,000 panels next to Nissan’s manufacturing facility.
Nissan has entered into a 20 year Power Purchase Agreement on a 100% take-or-pay basis.
The project is expected to deliver highly visible, contracted cashflows with fixed uplifts, in line with the Company’s targeted return, said Atrato.
Managing director Gurpreet Gujral: “We are working closely with the UK automotive industry to deliver further green energy initiatives and to help them on their path to net zero.
“This is one of the largest private wire solar projects in the UK and is a great example of how major UK manufacturers can benefit from ROOF’s low cost, traceable clean energy.”