A UK fund has acquired Nissan's latest solar power project in a £10.6m deal that will see the car maker purchase power generated over a 20-year agreement.
Atrato Onsite Energy, a specialist fund set up last year to focus on rooftop solar power installations, announced the deal to its shareholders saying it would take over the building of 20MW ground-mounted system that will eventually comprise about 37,000 solar panels. The project is a major part of Nissan's EV36Zero strategy to ramp up production of electric vehicles and is expected to create about 20% of the power needed for the Sunderland plant.
This latest deal will see Atrato - which uses the stock symbol ROOF and trades on the London Stock Exchange - complete the installation next to the Sunderland plant and then sell power generated to the manufacturer on a 100% take-or-pay basis.
