Atrato inks power purchase deal for Priject Skeeby

Atrato Onsite Energy - an investment company dedicated to clean energy generation - announced its entry into a power purchase agreement (PPA) for the electricity generated by Project Skeeby, a 50MW solar PV project located in Richmond, North Yorkshire on Wednesday.

The firm said the agreement was significant milestone in Atrato Onsite Energy's commitment to sustainable energy solutions.

Project Skeeby was previously acquired by Atrato Onsite Energy, as it announced on 14 April.

Currently, the project was undergoing installation and was expected to be energized by March next year.

In a strategic move, Atrato said it had entered into a three-year utility PPA with OVO Energy - a subsidiary of the OVO group and the third-largest supplier of domestic energy in the UK.

Under the terms of the agreement, Atrato Onsite Energy would supply 49 GWh of clean energy annually to OVO Energy.

That, it said, would result in a substantial reduction of approximately 9,500 tonnes of carbon dioxide emissions per year - equivalent to powering 17,000 homes in the UK or planting 380,000 trees.

“We are delighted to be supplying OVO, one of the largest electricity suppliers in the UK,” said Gurpreet Gujral, managing director of the company’s investment adviser Atrato Partners.

“As targeted at IPO, we have now built a portfolio of solar PV systems commercialised with a range of PPA maturities that result in an optimum sensitivity to power price movements.”

At 1009 BST, shares in Atrato Onsite Energy were down 1.8% at 81.51p.

Reporting by Josh White for Sharecast.com.