Altius Renewable Stock Price, News & Analysis

Altius Renewable Royalties Corp. (OTCQX: ATRWF) has completed a bought deal public offering of 3,900,000 common shares at C$9.00 each, generating C$35,100,000 in proceeds. The offering, led by TD Securities and Cormark Securities, includes an over-allotment option for an additional 585,000 shares. Proceeds will fund a 50% investment in Great Bay Renewables' Titan Solar project. Altius Minerals purchased 2,298,700 shares to maintain its ownership stake, now at approximately 59% of outstanding shares.

Altius Renewable Royalties Corp. (OTCQX: ATRWF) reported its Q3 2022 financial results, showcasing significant improvements. The company achieved $0.2 million in revenue, up from $0.04 million in Q3 2021, and net earnings of $0.3 million, a turnaround from a $1.4 million loss in the previous year.

Additionally, the joint venture Great Bay Renewables raised its annual royalty revenue guidance to $6.5 million-$7.0 million, driven by stronger merchant power prices. Operating cash flows are now sufficient to cover overhead costs, supporting expected growth with new royalty projects.

Altius Renewable Royalties Corp. (ATRWF) anticipates reporting Q3 2022 attributable royalty revenue of $1.6 million, a significant increase from $0.03 million in Q3 2021 and $0.6 million in Q2 2022. This surge is primarily driven by high summer merchant power prices. The joint venture Great Bay Renewables has raised its annual revenue guidance to between $6.5 million and $7.0 million, up from a prior estimate of $4.5 million to $5.5 million. Three new projects are expected to commence operations in the next six months, contributing to further revenue growth.

Altius Renewable Royalties Corp. (OTCQX: ATRWF) announces that its renewable energy partner, Tri Global Energy (TGE), has been acquired by Enbridge Inc.. Following this acquisition, Great Bay Renewables LLC, jointly controlled by ARR and Apollo Global Management, will continue to receive royalty contracts from TGE's projects until recovering its USD $46.5 million investment. This allows Great Bay to optionally acquire further royalties afterwards. CEO Frank Getman expressed optimism about TGE's growth under Enbridge's ownership.

Altius Renewable Royalties Corp. (OTCQX: ATRWF) reported its Q2 2022 financial results with attributable revenue of $0.7 million and a net loss of $0.5 million, an improvement from $0.07 million in revenue and a $0.7 million loss in Q2 2021. For H1 2022, revenue was $1.4 million with a net loss of $0.7 million. The company reaffirms its revenue guidance for 2022 at $4.5 to $5.5 million, driven by its operating royalties. As of June 30, 2022, cash reserves stood at $61.9 million.

Altius Renewable Royalties Corporation (ATRWF) announced a transaction with Hodson Energy, LLC, through its subsidiary Great Bay Renewables LLC. This deal involves a US$40 million royalty investment in Hodson's solar and battery storage projects, expected to achieve an internal rate of return (IRR) of 8-12%. The investment will be deployed in tranches over three years, with a US$14 million initial investment. Great Bay will earn a 3% gross revenue royalty on projects, providing funding flexibility to Hodson.

Altius Renewable Royalties Corp. (OTCQX: ATRWF) announces the re-acquisition of the 360 MW Canyon Wind project and 180 MW Flatland Solar project by Tri Global Energy, which have been resold to a buyer. Located in West Texas, both projects are under royalty agreements with Great Bay Renewables LLC. The royalty rates for Canyon Wind have been adjusted to a phased structure, while the Flatland Solar royalty changed from 1.5% to an escalating fixed payment. These adjustments will be reflected in future valuations but won't affect overall return hurdles.

Altius Renewable Royalties Corp. (OTCQX: ATRWF) reports that all resolutions at its June 2, 2022 Annual and Special Meeting of Shareholders were approved, with 23,169,877 shares, or 87.4%, voting. Key resolutions included the appointment of Deloitte LLP as auditors (99.97% approval) and election of directors, such as Earl Ludlow and Karen Clarke-Whistler, receiving over 99% approval. The advisory vote on executive compensation and amendments to legacy option agreements were also approved overwhelmingly (99.67% and 99.66% respectively). ARR focuses on providing capital to renewable energy developers.

Altius Renewable Royalties Corp. (ATRWF) reported Q1 2022 results, showing attributable revenue of US$0.7 million and a net loss of US$0.2 million, improved from US$0.3 million in Q4 2021. The company reaffirms its 2022 revenue guidance of US$4.5 million to US$5.5 million from its six operating royalties. Additionally, the joint venture received cash distributions of US$20.9 million. With a cash position of US$69.8 million, ARR continues to seek more investment opportunities in renewable energy projects.