6th Oct 2022 17:05
Atrato Onsite Energy PLC - Investor in onsite renewable energy assets - Says Vale of Mowbray Ltd, with whom Atrato has a power purchase agreement, has entered into administration. Vale of Mowbray is smallest deal in Atrato's portfolio, representing less than 0.6% of net asset value.
Atrato confirms with administrators that it will continue to sell energy to the site during the administration process with any excess sold to the grid under an existing spill PPA at a 84% premium above Vale of Mowbray's contractual price. If site is vacated, all energy generated by the solar installation will be sold to grid under higher PPA price.
Company says it does not expect "any material adverse consequences" because of administration, illustrating "the value of the credit protections that the company typically benefits from in its contracts."
Current stock price: 100.00 pence
12-month change: down 7.0%
By Chris Dorrell; [email protected]
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