LONDON, UK: Atrato Onsite Energy, the renewables investment trust focusing on UK commercial onsite energy, has acquired 100% of the shares of Hylton Plantation Solar Farm Limited, a company set up to develop a 20MWp solar PV system for Nissan Motor Manufacturing UK Limited.

The £10.6m transaction sees the Company take on the ownership of a behind-the-meter private wire solar installation project for Nissan in Sunderland.

The Company will complete the installation of a 20MW ground mounted system, using c. 37,000 panels, next to Nissan’s manufacturing facility. Nissan has entered into a 20 year Power Purchase Agreement (PPA) 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.

Gurpreet Gujral, Managing Director of Atrato Partners, the investment adviser to the Company, said: “I’m very pleased to announce this transaction, which brings a great installation project into ROOF’s portfolio.

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.”

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%. 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.