Atrato Onsite Energy, a renewables investment trust focusing on UK commercial rooftop solar, has raised £150m (€175m) in an initial public offering (IPO) on the London Stock Exchange.
Juliet Davenport, chair of Atrato Onsite Energy, said the significantly oversubscribed issue “demonstrates the alignment of the investment community with our mission to build new renewable energy capacity to help meet the UK’s binding net zero emissions target and meaningfully contribute to the green economy”.
Gurpreet Gujral, managing director of Atrato Partners, investment adviser to the company, said: “Atrato Onsite Energy aims to be the partner of choice for UK businesses considering rooftop solar in their plans to reach net-zero.
“We are already working closely with our corporate customers to reduce both their carbon footprints and energy costs, and we look forward to updating our investors on our progress.”
Atrato will invest in a diversified portfolio of onsite renewable energy assets and target an annual total return of 8 to 10% in the first financial year following the IPO and over the medium term.
The company’s shares will be admitted to trading on the London Stock Exchange on 23 November.
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