Altius Renewable Royalties Announces US$52.5 Million Royalty Investment in a Northleaf Wind and Solar Portfolio; New Developer Royalty Added
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Old Settler & Cotton Plains Wind Projects (Photo credit: Apex Clean Energy)
Cotton Plains Portfolio Royalty Acquisition
The newly acquired revenue-based royalty portfolio includes: (1) the 151 MW Old Settler wind project, (2) the 50 MW Cotton Plains wind project, and (3) the 15 MW Phantom Solar project (collectively, the “Projects”). The output from Cotton Plains and Phantom Solar is sold at a fixed price under long-term contracts with the
The royalty investment has been structured using royalty rates that vary over time and provide GBR with
ARR and Apollo Funds have agreed to fund the Northleaf investment with approximately 80% of the capital provided by Apollo Funds and the balance of
Additional information concerning the Northleaf transaction can be found at arr.energy and in a SEDAR-filed Material Change Report.
New Developer Royalty
ARR is also pleased to announce that it has been notified of the sale of a 500 MW renewable energy project in
This press release contains forward-looking information. Such information includes but is not limited to statements concerning use of proceeds, expected annual revenue and cash flow expectations, achievement of investment hurdle rates, and future investment potential. The use of forward-looking information in this press release is based on reasonable assumptions and beliefs of management in light of the information available to them at the time such statements are made. The forward-looking information contained in the press release is presented for the purpose of assisting ARR shareholders in understanding this transaction and the expected impact on ARR. By its nature, forward-looking information requires ARR to make assumptions and is subject to inherent risks and uncertainties that give rise to the possibility that actual results could differ materially from such statements Although the Company believes that the predictions, forecasts, expectations or conclusions reflected in the forward-looking information are reasonable, it can give no assurance that such matters will prove to have been correct. This forward-looking information is subject to uncertainties and other factors that could cause actual results to differ materially from such statements. These factors include but are not limited to: changes in general industry, market and economic conditions, equipment performance, power price changes, seasonality, weather events, outcomes from litigation and other variables. The forward-looking information included in this press release is expressly qualified by this cautionary statement and is made as of the date of this press release. ARR does not undertake any obligation to publicly update or revise any forward-looking information except as required by Canadian securities laws.
ARR is a recently formed renewable energy company whose business is to provide long-term, royalty level investment capital to renewable power developers, operators, and originators through its joint venture Great Bay Renewables. The Company combines industry expertise with innovative, partner-focused solutions to further the growth of the renewable energy sector as it fulfills its critical role in enabling the global energy transition.