Burges Salmon advises Atrato on trio of renewable energy projects

Burges Salmon, Edinburgh office

The firm’s renewable energy specialists have advised Atrato on three renewable energy projects valued at £67m

A MULTI-disciplinary team of renewable energy sector specialists from Burges Salmon has advised long-standing client Atrato Onsite Energy PLC, which trades under ‘ROOF’, on three significant projects across the UK, valued at £67 million.

Advising Atrato Onsite Energy on two transactions for a combined consideration of £29 million

Led by Burges Salmon’s Corporate Energy team, the first transaction that the firm advised on is a ready-to-build 28MW ground-mounted solar project in Wellingborough, Northamptonshire.  The project has been acquired by Atrato Onsite Energy Holdco Limited from Heliofidem UK Ltd, with energisation expected in Q4 2023.  Atrato has also signed heads of terms and an exclusivity agreement with a large multinational food and beverage company for the sale and purchase of electricity generated from this project, via a sleeved power purchase agreement (PPA).

The Burges Salmon team advising on this transaction included partner Camilla Usher-Clark, associate Hannah Wilson and solicitors William Davis and Jad Soubra from the firm’s Corporate team.  They were assisted by the firm’s Corporate Tax, Projects, Real Estate and Construction & Engineering teams.

The second transaction that the firm advised on comprised a 1MW new rooftop solar project in Preston, Lancashire.  The project has a 16-year PPA with Huntapac Produce Limited, one of the largest vegetable producers in the UK.  Energisation is expected in Q4 2023.

Burges Salmon’s Real Estate and Projects teams led on this transaction and included partner Will Woodall and senior associate Rosamond Harris (Real Estate) along with partner Ross Fairley and solicitor Isobel Annan (Projects).

Advising ROOF on the £38m acquisition of a 50MW solar project

The third project that Burges Salmon advised Atrato on was in relation to its £38 million acquisition of a ready-to-build 50MW solar project in Richmond, North Yorkshire. 

The ground mounted project will be constructed under a fully wrapped EPC contract.  ROOF will be investing a total of £38 million over a 12-month period to acquire and construct the project for a target energisation date in Q2 2024.

ROOF is running a competitive process across corporate and utility offtakers for the sale and purchase of electricity generated by the project.  Once energised, the project is expected to save 11,475 tonnes of CO2e a year and power an equivalent of 17,120 UK homes per annum.

The Burges Salmon team that advised ROOF on this acquisition included partner Camilla Usher-Clark, associate Hannah Wilson, solicitor Jad Soubra and trainee solicitor Will Penfold.  They were assisted by the firm’s Corporate Tax, Real Estate and Construction & Engineering teams.

Gurpreet Gujral, Managing Director at Atrato Partners, the investment adviser to ROOF, comments: “We remain very grateful to the Burges Salmon team for their ongoing advice and expertise in helping steer us through a variety of strategically important projects and transactions.  Our intention is to continue building a diversified portfolio of behind-the-meter and front-of-the-meter solar assets, whilst maintaining one of the lowest sensitivities to power prices in the sector, and these three projects brings us a significant step closer in delivering on our strategy.”

Atrato Onsite Energy PLC is an investment company focused on onsite clean energy generation, providing new renewable energy capacity with 100% carbon traceability to industrial and commercial counterparties. It focuses on UK commercial rooftop and onsite solar, helping its corporate clients achieve Net Zero and reduce their energy bills.

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