Atrato Onsite Energy plc has reached a conditional agreement to sell its entire operational solar asset portfolio, totaling 204 MW, to a joint venture formed by Brookfield Asset Management and an affiliate of RAIM.
The deal, valued at GBP 218.7 million (USD 24.8 million/EUR 22.4 million) in cash, includes 51 solar projects across 14 off-takers.
The portfolio's assets have an average unexpired contract revenue term of 14.2 years and a weighted average remaining asset life of 26 years. Between October 2023 and August 2024, the portfolio generated GBP 2.6 million in profit.
Since its IPO in November 2021, Atrato Onsite Energy has assembled this portfolio, which will now be sold as part of a larger strategy to liquidate the company, pending shareholder approval of a new investment objective and policy. The decision follows Atrato's June 2024 acquisition of three operational solar systems in the UK with a total capacity of 13 MW.
This transaction marks a strategic exit for Atrato as it shifts focus, while providing Brookfield and RAIM with a significant boost to their renewable energy assets.
