Atrato Onsite Energy - Transaction Update - Sonne Solar & Recipharm
07/09/2022 07:00
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220907:nRSG5149Ya&default-theme=true
RNS Number : 5149Y Atrato Onsite Energy PLC 07 September 2022
7 September 2022
LEI: 213800IE1PPREDIIZB62
Atrato Onsite Energy plc
(the "Company" or "ROOF")
Transaction Update
Atrato Onsite Energy plc (LSE: ROOF), the renewables investment trust focusing
on UK commercial onsite energy, today announces two transactions for a
combined consideration in excess of £31m. These are expected to deliver long
dated, contracted cashflows with annual inflation or fixed uplifts in line
with the Company's targeted returns.
Sonne Solar
The Company has acquired 100% of the shares of Sonne Solar Ltd - a company
that owns an operational portfolio and a development pipeline of
behind-the-meter ("BTM") solar PV systems - from Cero Generation (an
independent portfolio company of Macquarie's Green Investment Group).
The operational portfolio consists of 33MW of installed capacity across 32
rooftop and ground mount BTM assets in the UK. The offtakers are all
institutional grade and the project revenues benefit from annual inflation or
fixed uplifts, with a remaining average maturity of 21 years for the power
purchase agreements.
The development portfolio consists of a further 33 pipeline sites that are
part of a framework agreement with a single FTSE100 business.
Recipharm
The Company also announces reaching financial close on a c. 1MWp new rooftop
solar project, benefitting from a 25-year power purchase agreement with a
wholly owned subsidiary of Recipharm AB ("Recipharm"). The installation is
expected to be commissioned before the end of 2022.
Gurpreet Gujral, Managing Director of Atrato Partners Limited, the investment
adviser to the Company, said:
"We're delighted to announce these transactions. The Sonne operational assets
are an immediate source of income for ROOF whilst the development portfolio
provides attractive further pipeline.
The Recipharm transaction represents ROOF's first project within the
pharmaceutical sector. We are delighted to be able to provide Recipharm with a
new rooftop PV system that will generate long term, low cost and fully
traceable green energy."
ENQUIRIES
Atrato Partners +44 (0)20 3790 8087
Limited
Gurpreet Gujral
Francisca Wiggins
Carcie Rogers
Alvarium Securities Limited +44 (0)20 7016 6711
Mark +44 (0)20 7016 6713
Thompson
+44 (0)20 7016 6704
Eddie
Nissen
Oliver Kenyon
Kaso Legg Communications atrato@kl-communications.com
Charles Gorman +44 (0)20 3995 6673
Millie Steyn +44 (0)20 3995 6671
Notes to Editors
Atrato Onsite Energy plc (LSE: ROOF) is an investment company focused on
onsite clean energy generation, providing new renewable energy capacity with
100% carbon traceability to industrial and commercial counterparties. The
Company focuses on UK commercial rooftop and onsite solar, helping its
corporate clients achieve net zero and reduce their energy bills. It raised
£150 million in a significantly oversubscribed IPO in November 2021. ROOF
provides investors with attractive capital growth and secure, index-linked
income, targeting a 5% dividend yield and a total shareholder return of 8 -
10%((1)). Its shares were admitted to trading on the premium segment of the
Main Market of the London Stock Exchange on 23 November 2021. Atrato Partners
Limited is the Company's investment adviser.
Further information is available on the Company's website, www.atratoroof.com.
(1) The target dividend and target NAV total return set out above are targets
only and are not profit forecasts. There can be no assurance that these
targets can or will be met. These targets have been developed based upon
assumptions with respect to future business decisions and conditions that are
subject to change, including the Company's execution of its investment
objective and strategies, as well as growth in the sector and markets in which
the Company operates. As a result, the Company's actual results may vary from
the targets set out above and those variations may be material. The target
dividend yield reflects the IPO price of 100 pence per ordinary share.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END ACQFFFLIAEIRIIF