Published: 17 Feb 2023, 11:42
Renewable investment trust Atrato Onsite Energy has signed a solar-based power purchase agreement (PPA) with supermarket chain Tesco.
Atrato, which trades under the ticker ROOF, signed a 20-year PPA with Tesco for a 370kWp rooftop solar project situated at a supermarket site in Thetford, Norwich. Installation is set to commence in Q2 2023.
This will add to Atrato’s growing solar portfolio which, once the Tesco installation is completed, will consist of 19 operating rooftop solar PV systems on Tesco supermarket sites across the UK.
This PPA has also been established with plans to deliver solar PV projects at up to 20 sites as the first step under the new framework. With this framework agreement, Atrato now has a total pipeline of 69 Tesco solar development projects.
“This framework agreement unlocks the development of new solar power at one of Britain’s biggest consumer businesses, supplying it with low cost, traceable clean energy. We are delighted to be partnering with Tesco to deliver the next phase of its solar ambitions,” said Gurpreet Gujral, managing director of Atrato Partners, the investment adviser to the company.
Last month, Atrato confirmed the appointment of Tim Roebuck as senior commercial manager from energy supplier SSE. The hiring came as Atrato aimed to increase its presence within the solar market with this to be achieved via supporting the deployment strategy for Atrato Onsite Energy.
Late last year, Atrato Onsite Energy boosted its solar portfolio with the acquisition of 65 assets and pipeline projects from Macquarie Green Investment’s Sonne Solar. The fund secured 100% of the shares of Sonne Solar including an operational portfolio consisting of 33MW of installed capacity across 32 rooftop and ground mount behind-the-meter (BTM) assets in the UK.