Atrato Onsite Energy, the investment trust for renewables, recently acquired a solar power project that is set to be constructed at a Nissan car manufacturing plant based in Sunderland in the county of Tyne and Wear.
The new agreement will see the British investor deal acquire the development company known as Hylton Plantation Solar Farm in a transaction valued at £10.6 million.
UK investors interested in renewable energy who are seeking to add assets from the sector to their portfolio often take investment advice in Chester, Sunderland and other cities. Wealth management companies work closely with their clients to construct diverse and well-balanced investment portfolios that reflect specific ethical and financial requirements.
The private wire behind-the-meter 20 MW solar installation in Sunderland will use approximately 37,000 solar panels and is located next to the Nissan auto manufacturing facility. Recently, the French car company has undertaken a Power Purchase Agreement that has a 100 per cent take-or-pay basis for 20 years.
According to Atrato, the upcoming project is now expected to provide highly visible and contracted cashflows that deliver fixed uplifts. This is in line with the enterprise’s targeted return. Gurpreet Gujral, Atrato’s Managing Director, commented:
“We are working closely with the UK automotive industry to deliver further green energy initiatives and to help them on their path to net zero.”
Gujral added that the solar project is among the largest of its kind for the UK and an example of how British manufacturers can benefit from Atrato’s traceable and low-cost clean energy.