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Atrato Onsite Energy plc acquires 34MW rooftop solar portfolio valued at GBP77.3m.

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Global Banking News-September 13, 2023-Atrato Onsite Energy plc acquires 34MW rooftop solar portfolio valued at GBP77.3m

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Atrato Onsite Energy plc (LSE: ROOF), an investment company focusing on clean energy generation, has entered into a share purchase agreement to acquire a fully operational portfolio of rooftop solar assets valued at GBP77.3m. The portfolio includes 34MW of solar PV systems on UK residential rooftops. These assets benefit from the government's feed-in-tariff (FIT) scheme, providing steady income directly to the company. The transaction is set to be completed in approximately six weeks.

The FIT contracts have an average remaining term of 12 years and enjoy annual, uncapped RPI uplifts, with minimal exposure to wholesale power prices. The acquisition includes GBP38.7m in existing fixed-rate project finance debt with a 2% cost of debt, amortizing over the remaining FIT period of 12 years.

This addition is expected to significantly enhance Atrato Onsite Energy's solar asset portfolio...

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