DGAP-News: 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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Tuesday, October 5, 2021
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Altius Renewable Royalties Announces US$52.5 Million Royalty Investment in a Northleaf Wind and Solar Portfolio; New Developer Royalty Added
Key Points:
- Altius Renewable Royalties Announces US$52.5 Million Royalty Investment in a Northleaf Wind and Solar Portfolio; New Developer Royalty Added
The issuer is solely responsible for the content of this announcement. - St. John's, Newfoundland - September 30, 2021 - Altius Renewable Royalties Corp. (TSX: ARR, WKN: A2QQFT, OTCQX: ATRWF) ("ARR" or the "Company") reports that its joint venture subsidiary Great Bay Renewables ("GBR") has closed a US$52.5 million royalty investment with Northleaf Capital Partners ("Northleaf") related to three operating-stage wind and solar renewable energy projects located in Texas.
- The royalty investment has been structured using royalty rates that vary over time and provide GBR with US$ 4-7 million per year over the first 10 years of the investment.
- The structure also allows ARR to achieve its investment hurdle targets while optimizing Northleaf's project level cash flow profile.