Atrato Onsite Energy plc receives £30m funding boost
Independent UK law firm Burges Salmon has advised Atrato Onsite Energy plc, an investment company focused on onsite clean energy generation, on its secured £30m revolving credit facility with £20m accordion, agreed with NatWest Bank.
The funding will support Atrato Onsite Energy plc in the next stage of its growth strategy as the company looks to capitalise on its significant pipeline of opportunities. The Burges Salmon team advising Atrato Onsite Energy plc was led by the firm’s Renewable Energy team with partners Graham Soar and Ross Fairley leading the team on the banking and due diligence aspects of the transaction.
Burges Salmon has a longstanding relationship with Atrato Onsite Energy plc having previously supported the company through a series of significant renewable energy projects, including three solar-focused transactions with a combined value of £67m, as well as an innovative 10-year Corporate Power Purchase Agreement with FTSE 250 global soft drinks business Britvic.
Graham Soar comments: “We’ve been working with Atrato Onsite Energy for a number of years, supporting its vision to develop the UK solar sector and unlock its opportunities to promote the decarbonisation of the economy. It has been a pleasure to work once again with the team on this exciting financing which marks an important step in their development strategy.”
Gurpreet Gujral, Managing Director of Atrato Partners Limited, says: “Burges Salmon has been a trusted legal advisor for a number of years, the firm has a strong grasp of renewable energy projects and understands our business vision well. We are delighted to have been able to put financing in place, which will underpin the next phase of the company’s growth and we are grateful for the assistance from the Burges Salmon team in helping us deliver this.”
Burges Salmon’s Renewable Energy team has over 20 years of experience in the sector and is widely regarded as one of the sector’s leading firms.