Project London Road update – PPA signed
12 July 2023
LEI: 213800IE1PPREDIIZB62
Atrato Onsite Energy plc
(the "Company")
Project London Road 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") for the electricity generated by Project London Road ("London Road"). The 28MW solar PV project in Wellingborough, Northamptonshire, has now reached its financial close milestone. London Road was previously acquired, as announced on 24th March 2023, and is currently under installation with an expected energisation date in December 2023.
The PPA off-taker is Britvic Soft Drinks Limited ("Britvic"), the FTSE 250 global soft drinks business behind iconic brands such as Pepsi, Tango and Robinsons.
The project is expected to produce circa 33.3 GWh of clean energy per annum, enough to energise 75% of Britvic's operations in Great Britain. This will provide 6,500 tonnes of CO2 emissions savings a year, which is the equivalent of powering 11,500 homes or planting 260,000 trees.
The PPA has a 10-year unexpired term at a fixed price with annual CPI linked uplifts.
Gurpreet Gujral, Managing Director of Atrato Partners, the Investment Adviser to the Company said:
"We are delighted to have partnered with Britvic, who are responsible for some of the biggest consumer brand names in the UK. This is a unique PPA which will provide energy on a pay as you generate basis but delivered on a baseload basis that is consistent with Britvic's needs".
ENQUIRIES
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Atrato Partners Gurpreet Gujral Christopher Fearon
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+44 (0)77 959 75560 |
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Berenberg Gillian Martin Ben Wright Dan Gee-Summons
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+44 (0)20 3207 7800 |
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Kaso Legg Communications Charles Gorman Charlotte Francis
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atrato@kl-communications.com +44 (0)20 3995 6673
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Notes to Editors
Atrato Onsite Energy plc (LSE: ROOF) is an investment company specialising in 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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