Atrato Onsite buys 20-MWp Nissan-contracted solar project in UK

Renewable investment trust Atrato Onsite Energy plc (LSE:ROOF) today said it has acquired the developer of a 20-MWp solar project for a unit of Japanese carmaker Nissan Motor Co (TYO:720) in the UK.

The acquired entity, dubbed Hylton Plantation Solar Farm Ltd, is involved in the development of a photovoltaic (PV) scheme on behalf of Nissan Motor Manufacturing UK Ltd. Atrato has paid GBP 10.6 million (USD 12.6m/EUR 12.5m) for the purchase.

The specific project is set to create a behind-the-meter private wire solar installation in proximity to Nissan’s production base in Sunderland, Northern England. With around 37,000 panels, the plant will be generating electricity for the manufacturing complex, with its entire output to be bought by Nissan under a 20-year power purchase agreement (PPA).

“The project is expected to deliver highly visible, contracted cashflows with fixed uplifts [..],” Atrato Onsite said.

Atrato Onsite, which in November 2021 raised GBP 150 million in its initial public offering (IPO) on the London Stock Exchange, is investing in onsite clean energy generation projects, with a focus on the UK commercial rooftop and onsite solar segments.

(GBP 1.0 = USD 1.191/EUR 1.178)

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