Altius Renewable Royalties Provides Updated Information for Recently Announced Development Royalty

Rhea-AI Impact

(Low)

Rhea-AI Sentiment

(Neutral)

Tags

12/03/2021 - 08:49 AM

ST. JOHN’S, Newfoundland--(BUSINESS WIRE)-- Altius Renewable Royalties (TSX:ARR) (OTCQX: ATRWF) (“ARR”) is pleased to provide updated information concerning the recent creation of a developer financing-based 2.5% gross revenue royalty in favor of its joint venture subsidiary, Great Bay Renewables (“GBR”), that ARR disclosed in its Q3 results press release issued on November 8, 2021. JERA Co. Inc. has announced that its subsidiary, JERA Renewables NA, LLC, has acquired the 300 MW El Sauz wind project in Texas and that it expects to begin construction in early 2022 with operations expected to start in the last quarter of the year. GBR is a joint venture company of ARR and funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (“Apollo Funds”).

About ARR

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.