Investment trust Atrato Onsite Energy has acquired Sonne Solar Ltd from Cero Generation (an independent portfolio company of Macquarie’s Green Investment Group).
The operational portfolio of ‘behind the meter’ PV arrays totals 33MW of installed capacity across 32 rooftop and ground assets in the UK. The offtakers are all institutional grade and the project revenues benefit from annual inflation or fixed uplifts, with a remaining average maturity of 21 years for the power purchase agreements.
The development portfolio consists of a further 33 pipeline sites that are part of a framework agreement with a single FTSE100 business.
Atrato has also reached financial close on a 1MWp new rooftop solar project, which has a 25-year power purchase agreement with a wholly owned subsidiary of Recipharm . The installation is expected to be commissioned before the end of 2022.
Together the two investments total £31 million.
Gurpreet Gujral, Managing Director of Atrato Partners Limited, the investment adviser to the Company, said: “The Sonne operational assets are an immediate source of income for ROOF whilst the development portfolio provides attractive further pipeline. The Recipharm transaction represents ROOF’s first project within the pharmaceutical sector.”