Atrato Onsite Energy plc entered into a share purchase agreement to acquire 34MW Operational Rooftop Solar Portfolio from Federated Hermes Diversified Infrastructure Fund, a fund managed by Federated Hermes Limited for £77.3 million.

Atrato Onsite Energy plc entered into a share purchase agreement to acquire 34MW Operational Rooftop Solar Portfolio from Federated Hermes Diversified Infrastructure Fund, a fund managed by Federated Hermes Limited for £77.3 million on September 13, 2023. The portfolio comprises 34MW of solar PV systems situated on residential rooftops across the UK. The Transaction includes £38.7 million of existing fixed rate project finance debt.

The cost of debt is 2% and the existing project finance within the structure amortizes over the remaining 12-year year FIT period. The completion of the transaction is expected to take 6 weeks. Gurpreet Gujral and Christopher Fearon of Atrato Partners Limited acted as financial advisor to Atrato Onsite Energy plc.