Altius Renewable Royalties Partners with Apex Clean Energy for a Significant Investment in Texas Solar Project
Altius Renewable Royalties (TSX:ARR) (OTCQX:ATRWF) has announced a substantial $30 million royalty investment with Apex Clean Energy for the Angelo Solar project in Tom Green County, Texas. The Angelo Solar project, set to begin commercial operations in May 2024, boasts a capacity of 195 MWac.
Strategic Partnership and Investment Details
Great Bay Renewables, jointly controlled by Altius Renewable Royalties and certain Apollo-managed funds (NYSE: APO), facilitated this $30 million royalty investment. Apex Clean Energy, renowned for its expertise in renewable energy projects, holds a prominent position in the industry with a vast portfolio of renewable resources.
The royalty investment structure incorporates varying royalty rates over time, aligning with Great Bay’s investment goals. The Angelo Solar project has a secure off-take contract, with its entire capacity committed to Meta under an environmental attribute purchase agreement.
Support for Energy Transition
Frank Getman, CEO of Great Bay, expressed confidence in the Angelo Solar project, emphasizing its strong off-take contract and the potential for stable revenue over the years. This investment aims to support Apex’s efforts in accelerating and shaping the energy transition.
About Altius Renewable Royalties
Altius Renewable Royalties focuses on providing long-term, royalty-level investment capital to developers, operators, and originators in the renewable power sector. With 33 renewable energy royalties representing around 2.4 GW of operating projects and an additional approximate 6 GW in development phase, Altius plays a pivotal role in enabling the global energy transition.
Forward-Looking Information
While Altius Renewable Royalties acknowledges the forward-looking information presented in this release, it emphasizes that actual events may differ from expectations. The company does not provide assurances about the realization of projected revenues and suggests that forward-looking information is subject to inherent risks and uncertainties.
Source：http://www.businesswire.com
