19 September 2023

Independent UK law firm Burges Salmon has advised Atrato Onsite Energy plc, an investment company focused on onsite clean energy generation, on its share purchase agreement to acquire a fully operational portfolio of c.9,500 rooftop solar assets with a total value of £77.3m.

The acquisition complements Atrato’s portfolio of solar assets and is expected to generate 30GWh of clean energy annually, saving 5,800 tonnes of CO2 emissions per year, the equivalent to powering 10,000 UK homes or planting 230,000 trees. The portfolio is being acquired from a fund managed by Federated Hermes Infrastructure.

The Burges Salmon team advising on the transaction was led by partner Camilla Usher-Clark from the firm’s Corporate Group. They were supported by a multi-disciplinary team of lawyers from the firm’s Energy and Built Environment sectors, led by partners Ross Fairley and James Horton, and senior associate Rosamund Harris, who provided due diligence support covering energy regulatory, construction, real estate and planning expertise.

This is the second transaction completed by Burges Salmon this month on behalf of Atrato Onsite Energy plc, with the firm advising the company on its £30m revolving credit facility agreed with NatWest Bank. Earlier this year, the firm also supported Atrato through a series of high-profile renewable energy projects, including three solar-focused transactions with a combined value of £67 million as well as an innovative 10-year Corporate Power Purchase Agreement with FTSE 250 global soft drinks business Britvic.

Camilla Usher-Clark comments: “Advising our energy clients on projects that support clean energy generation and net zero is a top priority for our firm and we’re pleased to have advised Atrato Onsite Energy on this ambitious acquisition, which diversifies its strong portfolio of solar assets in UK.”

Gurpreet Gujral, Managing Director of Atrato Partners, the Investment Adviser to the Company said: "We are delighted to have had the opportunity to acquire this significant rooftop portfolio, which has strong fundamentals and fits well into our current portfolio. The acquisition will provide immediate, long-term, highly contracted cash flows with 100% uncapped RPI linkage and UK government backing. We’re grateful to the Burges Salmon team for their legal advice which, as always, is underpinned by a deep understanding of the renewables sector.”

Burges Salmon’s Renewable Energy team has over 20 years’ experience in the sector and is widely regarded as one of the sector’s leading firms.

Key contact

Camilla Usher-Clark

Camilla Usher-Clark Partner

  • Corporate
  • Energy and Utilities
  • Co-operatives

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