Atrato Onsite Energy PLC Project Skeeby update -- PPA signed
June 28 2023 - 1:00AM
RNS Non-Regulatory
TIDMROOF
Atrato Onsite Energy PLC
28 June 2023
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 CO(2) 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 atrato@kl-communications.com
Charles Gorman +44 (0)20 3995 6673
Charlotte Francis
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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END
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