Atrato Onsite Energy PLC on Wednesday said that it has entered a power purchase agreement for the electricity generated by Project London Road.
According to the London-based renewable energy investment trust, the 28 megawatt solar photovoltaic project has now reached its financial close milestone. The project is located in Wellingborough, Northamptonshire, and is currently under installation with an expected energisation date in December.
The off-taker for the agreement is Britvic Soft Drinks Ltd, a FTSE-250 listed soft drinks business behind brands like Pepsi, Tango, and Robinsons. The deal has a ten year unexpired term at a fixed price, with annual consumer price inflation linked uplifts.
The project is expected to produce circa 33.3 gigawatt hours of clean energy per annum, enough to energise 75% of Britvic’s operations in Great Britain.
‘We are delighted to have partnered with Britvic, who are responsible for some of the biggest consumer brand names in the UK. This is a unique PPA which will provide energy on a pay as you generate basis but delivered on a baseload basis that is consistent with Britvic’s needs’, said Managing Director Gurpreet Gujral.
Atrato Onsite Energy shares were trading 2.2% lower at 84.66 pence each in London on Wednesday morning. Shares in Britvic were up 0.6% at 859.50 pence in London.
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