Burges Salmon helps longstanding renewables client power ahead with pair of major acquisitions

June 21, 2024
By

A major investment company focused on clean energy generation has made a series of solar acquisitions, thanks to advice from a team at Bristol-headquartered national law firm Burges Salmon.

The firm’s corporate energy team worked with longstanding London Stock Exchange-listed Atrato Onsite Energy on the deal, which included the £9.3m acquisition of a 13MW solar portfolio and a £6.4m acquisition of 9.5MW of solar PV systems. 

The solar portfolio includes three fully operational commercial and residential assets, expected to generate 10GWh of clean energy annually, the equivalent to powering 3,800 homes and save around 2,200 tonnes of CO2 emissions a year.

The solar PV systems include an operational 7.3MW portfolio based on two commercial sites in the UK and three assets on Tesco store sites with a combined 2.2MW of rooftop capacity.

The investment is expected to save 1,700 tonnes of carbon emissions a year and power an equivalent of 2,800 homes a annum.

The acquisitions have increased Atrato’s portfolio to 191MW.

The Burges Salmon team advising on the deals was led by partner Camilla Usher-Clark, supported by solicitor William Davis. 

The firm has a long relationship with Atrato, having recently advised on its innovative 10-yeawr corporate power purchase agreement with FTSE 250 global soft drinks firm Britvic, three renewable energy projects valued at £67m and a £77.3m acquisition of around 9,500 rooftop solar assets.

Camilla Usher-Clark, pictured, said: “It’s been a pleasure working with the Atrato team again on these transactions, which strengthen its position as the leading commercial and industrial solar platform, with our client contributing significantly towards the UK’s net zero targets and supporting the UK’s solar transition.”

Gurpreet Gujral, managing director of Atrato Partners, the investment adviser to the company, added: “These transactions diversify and complement Atrato’s existing rooftop and ground mount portfolios perfectly.

“We’re grateful to the Burges Salmon team for their clarity and quality of legal advice; the team always guides us through the transactional process with ease and its understanding of the solar energy sector is impressive.”

Burges Salmon, which employs more than 1,100 people across its offices in Bristol, Edinburgh and London, has more than 20 years of experience in the clean energy sector and is regularly engaged in first-of-a-kind work across onshore and offshore wind, solar, BESS, biomass, hydrogen and geothermal projects.

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