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28 Jun 2023 07:00
28 June 2023
LEI: 213800IE1PPREDIIZB62
Atrato Onsite Energy plc
(the "Company")
Project Skeeby update - PPA signed
Atrato Onsite Energy plc (LSE: ROOF), the investment company focusing on clean energy generation, announces that it has entered into a Power Purchase Agreement ("PPA") over the electricity generated by Project Skeeby ("Skeeby"), a 50MW solar PV project in Richmond, North Yorkshire. Skeeby was previously acquired, as announced on 14 April 2023, and is currently under installation with an expected energisation date of March 2024.
The Company has entered into a 3-year utility PPA with OVO Energy Limited (OVO Energy), part of the OVO group; the third largest supplier of domestic energy in the UK. The Company is expected to supply 49 GWh of clean energy per annum to OVO Energy, providing 9,500 tonnes of CO2 emission savings per annum, equivalent to powering 17,000 UK homes or planting 380,000 trees.
The PPA will provide the Company with a 3-year revenue stream at a set price with fixed annual uplifts for the energy produced by Skeeby.
Gurpreet Gujral, Managing Director of Atrato Partners, the Investment Adviser to the Company said:
"We are delighted to be supplying OVO, one of the largest electricity suppliers in the UK. As targeted at IPO, we have now built a portfolio of solar PV systems commercialised with a range of PPA maturities that result in an optimum sensitivity to power price movements.
ENQUIRIES
Atrato Partners Gurpreet Gujral Christopher Fearon
| +44 (0)77 959 75560 |
Berenberg Gillian Martin Ben Wright Dan Gee-Summons
| +44 (0)20 3207 7800 |
Kaso Legg Communications Charles Gorman Charlotte Francis
| atrato@kl-communications.com +44 (0)20 3995 6673
|
Notes to Editors
Atrato Onsite Energy plc (LSE: ROOF) is an investment company focused on clean energy generation with 100% carbon traceability. The Company focuses on UK commercial solar, helping its corporate clients achieve net zero and reduce their energy bills.
The Company aims to provides investors with attractive capital growth and long dated, index-linked income, targeting a 5% dividend yield and a NAV total 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) There is no certainty that these targets will be achieved.
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