RENEWABLES investment trust Atrato Onsite Energy has announced its intention to float with a £150m IPO in what will mark the first-ever listing from a company with an all-female board on the London Stock Exchange.

Atrato Onsite Energy, which has been established to invest mainly in solar panels on the roofs of large commercial buildings, is expected to close the IPO by the end of November.

Today, the investment trust announced it is seeking to raise £150m when it floats through ordinary shares, and will aim for the premium segment of London's main market.

Targeting a five per cent per share dividend from day one, the new trust then intends to grow the annual total return to between eight and 10 per cent.

The company will have an independent board of three non-executive directors led by Juliet Davenport, founder of Aim-listed renewable power supplier Good Energy.

"The Company will play a leading role in providing new green power capacity, delivering businesses a dedi- cated clean energy supply at a low fixed cost," said Davenport, chair of the new trust.

Atrato also said it will also focus its investments on long-term assets with limited exposure to the wholesale power prices that are currently sending the UK's energy market into flux.

CV JULIET DAVENPORT £ HIGH ENERGY After a BA in physics, Davenport briefly worked on energy policy at the European Commission. £ DON'T JUST TALK THE TALK In 1999 to bridge the gap between energy firms and peoples' desire to do their bit for climate change she founded Good Energy, which now provides 100 per cent renewable energy to homes. £ OBE In 2013, Davenport was awarded an OBE for her services to renewables. She stepped down as CEO of GE in May 2021, staying on the board.

(c) 2021 City A.M., source Newspaper