Atrato Onsite Energy has announced the 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. The company will invest a total of £38m over a 12-month period to acquire and construct the project for a target energisation date in Q2 2024. Harmony Energy, one of the sellers, will continue to support the company with the delivery of the project.
The company is running a competitive process across corporate and utility off-takers 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.
Gurpreet Gujral, Managing Director of Atrato Partners, Investment Adviser to the company, says, “We are pleased to announce this acquisition which is our largest solar energy project to date. At IPO we stated our intention to build 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. This brings us a significant step closer in delivering on our strategy.”