REG - Atrato Onsite Energy - Investment of £29 million into two solar projects

Atrato Onsite EnergyAnnouncement

24/03/2023 10:45

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RNS Number : 0833U  Atrato Onsite Energy PLC  24 March 2023

24 March 2023

LEI: 213800IE1PPREDIIZB62

 

Atrato Onsite Energy plc
(the "Company")

 

Investment of £29 million into two solar projects

 

Atrato Onsite Energy plc (LSE: ROOF), the investment company focusing on clean
energy generation, announces two transactions for a combined consideration of
£29 million. Both projects are expected to deliver long dated, highly
visible, contracted cashflows with inflation linked uplifts.

London Road Energy Centre Limited

The Company has acquired a ready to build 28MW ground-mounted solar project in
Wellingborough, Northamptonshire. The project has been acquired from
Heliofidem UK Ltd, with energisation expected in Q4 2023.

The Company has also 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.

Huntapac Produce Limited

The Company also announces reaching financial close on a 1MW new rooftop solar
project in Preston, Lancashire. The project has a 16-year PPA with Huntapac
Produce Limited, one of the largest vegetable producers in the UK.
Energisation is expected in Q4 2023.

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

"I am very pleased to announce these transactions. 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".

 

 

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

 Millie Steyn              +44 (0)20 3995 6671

 

 

Notes to Editors

Atrato Onsite Energy plc (LSE: ROOF) is an investment company focused on clean
energy generation, providing new renewable energy capacity with 100% carbon
traceability to industrial and commercial counterparties. The Company focuses
on UK commercial 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. Atrato Onsite Energy plc 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
(http://www.atratoroof.com) .

 

(1) The target dividend set out above is a target and is not a profit
forecast. There can be no assurance that this target can or will be met. This
target has 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.

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