We are delighted to announce the Atrato Onsite Energy maiden full year results. Since IPO we have deployed £49m into a diversified portfolio of 37 solar PV systems. The portfolio has:
– 91% of revenue contracted under a PPA or subsidy
– 82% of revenue contracted with annual inflation or fixed uplifts
– 19 years weighted average unexpired PPA term
– Achieved a 6,000 tonne CO2 equivalent saving to date
Because of these highly contracted and long term PPAs, our exposure to merchant power prices is very low.
We have a £360m pipeline in which to invest the remainder of the IPO proceeds. We are able to target higher returns for these projects than outlined at IPO because of the increase in energy prices. The investment adviser has invested significantly in their renewables team to help expedite the execution of the pipeline.
Juliet Davenport, Chair of Atrato Onsite Energy said: “ROOF’s strategy sits neatly at the confluence of two major global macroeconomic investment thematics. That is, structurally higher energy prices and commitments by corporates and governments to reach net zero. The investment case underpinning these two long-term themes continues to strengthen and hence we believe that ROOF is well positioned for the future.”
