REG - Atrato Onsite Energy - Investment

Atrato Onsite EnergyAnnouncement

01/06/2022 07:01

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RNS Number : 3131N  Atrato Onsite Energy PLC  01 June 2022

01 June 2022

LEI: 213800IE1PPREDIIZB62

Atrato Onsite Energy plc
(the "Company")
Investment

 

Atrato Onsite Energy plc (LSE: ROOF), the renewables investment trust focusing
on UK commercial onsite solar and providing investors with capital growth and
long-dated, index-linked income, today announces that it has invested £6.6
million into an operational rooftop solar photovoltaic ("PV") system for Marks
& Spencer plc ("M&S"). The asset is immediately income producing for
the Company through the sale of green electricity onsite under a long-term
power purchase agreement with M&S.

The PV system, part of the pipeline as set out at the Company's IPO, is
installed on an M&S logistics warehouse in Leicestershire. The 900,000
square foot distribution centre has over 24,000 PV panels on its roof which
provide a capacity of 6.1 megawatts peak.

The project has been operational since 2015 and is accredited under the
Renewable Obligation Certificate ("ROC") regime at a rate of 1.6 ROCs per
megawatt hour of generation.  ROC projects are eligible for certificates for
twenty years from commissioning.

The project generated almost 5 gigawatt hours of clean energy in 2020,
representing an emission saving of over 1,200 tonnes of CO(2)e.

 

 

ENQUIRIES

 Atrato Partners                                                                                                    +44 (0)77 959 75560
 Limited

 Gurpreet Gujral

 Francisca Wiggins

 Christopher Fearon

 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

 Charlotte Francis                                                                                                  +44 (0)20 3995 6699

 Millie Steyn                                                                                                       +44 (0)20 3995 6671

 

Notes to Editors

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

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