The trust, which will be managed by Atrato Capital, the managers of the Supermarket Income REIT, is thought to be the first trust with an all female board.
Atrato Onsite Energy is targeting an annualised dividend of 5 pence per share for the first and second financial years following the IPO and will seek to grow the dividend progressively thereafter.
It will target an annual total return of 8-10% in the first financial year following the IPO and over the medium term.
“The company will play a leading role in providing new green power capacity, delivering businesses a dedicated clean energy supply at a low fixed cost.”
Davenport added that the trust is expected to receive the London Stock Exchange’s Green Economy Mark, “providing a confidence that the fund will have a material contribution to the global green economy.”
Gurpreet Gujral, managing director of Atrato, said that Rooftop Solar PV has “unique and attractive features” including allowing corporates to reduce their carbon emissions at the same time as their energy bill.
“They can also provide investors with a stable income stream with limited exposure to the wholesale energy market,” Gujral said.
“We are excited to launch the first listed investment company with a dedicated onsite energy generation strategy. We look forward to deploying the net proceeds of the IPO into an identified pipeline of acquisition opportunities, totalling over £300 million, within 12 months from IPO.”