Altius Renewable Royalties Announces Additional US$20 Million Royalty Financing to Apex Clean Energy
St. John’s, Newfoundland - July 21, 2021 - Altius Renewable Royalties Corp. (TSX: ARR, WKN: A2QQFT) (“ARR” or the “Company”) is pleased to report that its jointly controlled subsidiary, Great Bay Renewables, LLC (“Great Bay”) has closed a follow-on royalty investment of US$20 million with Apex Clean Energy (“Apex”) related to Apex’s broad portfolio of wind, solar and energy storage development projects located across North America. Great Bay provided an initial US$35 million in royalty financing to Apex in March 2020, with agreed mutual options for additional funding.
About Altius Renewable Royalties
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, LLC. Apollo Fund (“Apollo”) is earning into a 50% joint venture interest by investing US$80 million. The funding of this additional US$20 million will be funded by Apollo pursuant to its earn-in. 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.
For further information, please contact:
Flora Wood
Email: [email protected]
Tel: 1.877.576.2209
Direct: +1.416.346.9020
Ben Lewis, CFO
Email: [email protected]
Tel: 1.877.576.2209
Website: https://www.arr.energy
News release on ARR website:
