London-based clean energy-focused investor Atrato Onsite Energy plc announced on Tuesday its acquisition of a portfolio of three operational solar systems in the UK, marking a strategic move in expanding its renewable energy assets.
The acquisition, valued at GBP 9.3 million (USD 11.8m/EUR 10.9m), includes a diverse mix of solar assets, consolidating Atrato's foothold in the renewable energy sector. Among the acquired assets are 7.7 MW of residential rooftop installations, benefiting from the government's feed-in-tariff (FIT) scheme and owned by three different UK housing associations.
Additionally, Atrato acquired a 3.7-MW subsidy-free ground-mounted asset, which is commercialised under a power purchase agreement (PPA) with a local utility. Another asset included in the portfolio is a 1.7-MW ground-mounted site accredited under the government's renewable obligation certificate (ROC) scheme.
The portfolio, with a total capacity of 13 MW, is reported to have an “attractive return profile” and boasts a 10-year average remaining contracted term. Atrato anticipates that the acquired assets will generate approximately 10 GWh of clean energy annually, equivalent to powering approximately 3,800 homes each year.
