RCS - Atrato Onsite Energy - Project Skeeby update – PPA signed

Atrato Onsite EnergyAnnouncement

28/06/2023 07:00

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RNS Number : 1183E  Atrato Onsite Energy PLC  28 June 2023

28 June 2023

LEI: 213800IE1PPREDIIZB62

 

Atrato Onsite Energy plc
(the "Company")

 

Project Skeeby update - PPA signed

 

Atrato Onsite Energy plc (LSE: ROOF), the investment company focusing on clean
energy generation, announces that it has entered into a Power Purchase
Agreement ("PPA") over the electricity generated by Project Skeeby ("Skeeby"),
a 50MW solar PV project in Richmond, North Yorkshire. Skeeby was previously
acquired, as announced on 14 April 2023, and is currently under installation
with an expected energisation date of March 2024.

 

The Company has entered into a 3-year utility PPA with OVO Energy Limited (OVO
Energy), part of the OVO group; the third largest supplier of domestic energy
in the UK. The Company is expected to supply 49 GWh of clean energy per annum
to OVO Energy, providing 9,500 tonnes of CO(2) emission savings per annum,
equivalent to powering 17,000 UK homes or planting 380,000 trees.

 

The PPA will provide the Company with a 3-year revenue stream at a set price
with fixed annual uplifts for the energy produced by Skeeby.

 

Gurpreet Gujral, Managing Director of Atrato Partners, the Investment Adviser
to the Company said:

 

"We are delighted to be supplying OVO, one of the largest electricity
suppliers in the UK. As targeted at IPO, we have now built a portfolio of
solar PV systems commercialised with a range of PPA maturities that result in
an optimum sensitivity to power price movements.

 

 

ENQUIRIES

 

 Atrato Partners           +44 (0)77 959 75560

 Gurpreet Gujral

 Christopher Fearon

 Berenberg                 +44 (0)20 3207 7800

 Gillian Martin

 Ben Wright

 Dan Gee-Summons

 Kaso Legg Communications  atrato@kl-communications.com

 Charles Gorman            +44 (0)20 3995 6673

 Charlotte Francis

 

 

Notes to Editors

Atrato Onsite Energy plc (LSE: ROOF) is an investment company focused on clean
energy generation with 100% carbon traceability. The Company focuses on UK
commercial solar, helping its corporate clients achieve net zero and reduce
their energy bills.

 

The Company aims to provides investors with attractive capital growth and long
dated, index-linked income, targeting a 5% dividend yield and a NAV total
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
(http://www.atratoroof.com) .

 

(1) There is no certainty that these targets will be achieved.

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