LONDON, UK: Atrato Onsite Energy plc (LSE: ROOF), the investment company focusing on clean energy generation, announced the acquisition of a fully operational portfolio of solar PV systems for a total consideration of £9.3 million.

The portfolio includes three solar assets with a total capacity of 13MW with a 10-year average remaining contracted term and comprises:

• 7.7MW of solar PV systems situated on residential rooftops owned by three different UK housing associations across the UK which benefit from payments pursuant to the government’s feed-in-tariff (“FIT”) scheme, with a remaining term of 11 years and 100% uncapped RPI linkage

• A 3.7MW subsidy free ground mounted asset, commercialised under a utility PPA

• A 1.7MW ground mounted asset accredited under the government’s Renewable Obligation Certificate (“ROC”) regime with a 13-year unexpired term

The Company and the Investment Adviser believe this portfolio to be a highly attractive addition to the Company’s existing portfolio of solar assets due to its attractive return profile, with a substantial proportion of the revenue stream underpinned by government backed income and 100% uncapped RPI inflation linkage.  

The portfolio was financed by utilising available headroom in the Revolving Credit Facility (“RCF”), which was increased to £40 million in March 2024 by accessing £10 million of the accordion facility.

The portfolio is expected to generate 10GWh of clean energy annually, providing c. 2,200 tonnes CO₂ emissions saving per annum, equivalent to powering c. 3,800 UK homes per annum.

Gurpreet Gujral, Managing Director of Atrato Partners, the Investment Adviser to the Company said: “We are delighted to have acquired this significant and diversified portfolio of solar assets which is highly complementary to our existing rooftop and ground mount portfolio and providing immediate, long-term, highly contracted cash flows underpinned by government backed income and uncapped RPI linkage.”  

Juliet Davenport OBE, Chair of Atrato Onsite Energy said: “I am pleased to announce this latest transaction. The portfolio is immediately cash generative, supporting our objective of providing progressive dividend income to our shareholders as well as providing significant future CO₂ savings”.

Atrato Onsite Energy announces £6.4 million solar investments