ROOF makes two new solar acquisitions for a combined consideration in excess of £31m.

We are delighted to announce two acquisitions for a combined consideration in excess of £31m. This includes a significant operational portfolio and development pipeline of onsite solar PV systems from Macquarie’s Green Investment Group. 

The operational portfolio consists of 33MW of installed capacity across 32 rooftop and ground mount behind the meter assets in the UK. The offtakers are all institutional grade and the project revenues benefit from annual inflation or fixed uplifts, with a remaining average maturity of 21 years for the power purchase agreements. 

The development portfolio consists of a further 33 pipeline sites that are part of a framework agreement with a single investment grade FTSE100 business offtaker. 

We have also reached financial close on a c. 1MWp new rooftop solar project, benefitting from a 25-year power purchase agreement with a wholly owned subsidiary of Recipharm AB.  

Gurpreet Gujral, Managing Director of Atrato Partners Limited, the investment adviser to the Company, said: 

“We are delighted to announce these transactions which provide both an immediate source of income for ROOF as well as significant further pipeline.”