Atrato Onsite Energy, an investment company, has acquired 33 MW of installed solar projects across 32 the UK from Macquarie’s Green Investment Group for £31 million (~$36.19 million).

The offtakers are all institutional grade, and the project revenues benefit from annual inflation or fixed uplifts, with a remaining average maturity of 21 years for the power purchase agreements. The company has also reached a financial close on a 1MW new rooftop solar project, benefitting from a 25-year power purchase agreement with a wholly owned subsidiary of Recipharm AB.

Gurpreet Gujral, Managing Director of Atrato Partners Limited, the investment adviser to the company, said: “We are delighted to announce these transactions which provide both an immediate source of income for ROOF as well as the significant further pipeline.”

Recently, Orsted, a renewable energy developer, acquired 65 MW of the Ballinrea solar PV project in Ireland from renewable energy developer Terra Solar. The 65 MW solar project will be located in Cork, the second-largest city in Ireland, and is expected to be operational by 2025.

According to Mercom’s 1H and Q2 2022 report, 66 large-scale solar project acquisitions in Q2 2022 compared to 82 transactions in Q1 2022. Cypress Creek Renewables, a project developer and an independent power producer, acquired a 100 MW solar transmission project from Carson Power, a solar and storage developer. The project is in Rochester, New York, U.S., currently in the early stages of development and is expected to be operational by 2026.

MET Group, an integrated European energy company, acquired a 100% stake in 60 MW of greenfield photovoltaic development project from TOREN Spolka Aksyjna, a polish renewable project developer in Poland, last month. With this acquisition, MET Group is growing its European renewables portfolio by expanding into the Polish market.