Investment

RNS Number : 3131N

Atrato Onsite Energy PLC

01 June 2022

 

01 June 2022

LEI: 213800IE1PPREDIIZB62

Atrato Onsite Energy plc

(the "Company")

Investment

Atrato Onsite Energy plc (LSE: ROOF), the renewables investment trust focusing on UK commercial onsite solar and providing investors with capital growth and long-dated, index-linked income, today announces that it has invested £6.6 million into an operational rooftop solar photovoltaic ("PV") system for Marks & Spencer plc ("M&S"). The asset is immediately income producing for the Company through the sale of green electricity onsite under a long-term power purchase agreement with M&S.

The PV system, part of the pipeline as set out at the Company's IPO, is installed on an M&S logistics warehouse in Leicestershire. The 900,000 square foot distribution centre has over 24,000 PV panels on its roof which provide a capacity of 6.1 megawatts peak .

The project has been operational since 2015 and is accredited under the Renewable Obligation Certificate ("ROC") regime at a rate of 1.6 ROCs per megawatt hour of generation.  ROC projects are eligible for certificates for twenty years from commissioning.

The project generated almost 5 gigawatt hours of clean energy in 2020, representing an emission saving of over 1,200 tonnes of CO₂e.

ENQUIRIES

Atrato Partners Limited   Gurpreet Gujral Francisca Wiggins Christopher Fearon	[phone]
Alvarium Securities Limited Mark Thompson  Eddie Nissen  Oliver Kenyon	[phone] [phone] [phone]
Kaso Legg Communications  Charles Gorman Charlotte Francis Millie Steyn	[e-mail] [phone] [phone] [phone]

Notes to Editors

Atrato Onsite Energy plc (LSE: ROOF) is an investment company focused on onsite green energy generation, providing new renewable energy capacity with 100% carbon traceability to industrial and commercial counterparties. The Company focuses on UK commercial rooftop solar, helping its corporate clients achieve net zero and reduce their energy bills. It raised £150 million in a significantly oversubscribed IPO in November 2021. Atrato Onsite Energy provides investors with attractive capital growth and secure, index-linked income, targeting a 5% dividend yield and a total shareholder 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) The target dividend and target NAV total return set out above are targets only and are not profit forecasts. There can be no assurance that these targets can or will be met. These targets have been developed based upon assumptions with respect to future business decisions and conditions that are subject to change, including the Company's execution of its investment objective and strategies, as well as growth in the sector and markets in which the Company operates. As a result, the Company's actual results may vary from the targets set out above and those variations may be material. The target dividend yield reflects the IPO price of 100 pence per ordinary share.

 

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