FGEN,has completed the sale of its entire portfolio of operational rooftop solar assets to AtmosClear Investments for £21.2 million. The Initial £20.5m payment represents a modest premium to the valuation as at 30 September 2024 but with the potential for further upside from the deferred consideration.

The rooftop assets consists of over 1,000 fully operational domestic rooftop, commercial rooftop and ground-mounted solar installations distributed across the UK and acquired in 2015.

The disposal represents an IRR of 4.2% and a multiple on invested capital of 1.3x and follows the disposal, earlier this year of the anaerobic digestion assets at 10.9% IRR and 1.7x MOIC).

We interviewed the investment team behind the trust, who outlined the financial and operational highlights from the period, but also reaffirmed their confidence in FGEN’s investment strategy.