Altius Renewable Royalties Announces Acquisition of US$18 Million Royalty on Operating Wind Project
Altius Renewable Royalties Corp. (OTCQX: ATRWF) announced that its subsidiary, Great Bay Renewables, will acquire a royalty agreement on a 1 GW wind project in Hansford County, Texas, from Apex Clean Energy for US$18 million. The royalty, tied to 658 megawatts of the project, is expected to contribute US$1.5 million to revenue in 2023. CEO Frank Getman emphasized the production volume-based nature of the royalty, which minimizes price exposure and diversifies the company's portfolio.
- Acquisition of a royalty agreement enhances revenue potential with an expected contribution of US$1.5 million in 2023.
- The royalty structure is production volume-based, minimizing price exposure and risk.
- None.
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ST. JOHN’S,
Under the Royalty,
Commenting on the investment,
About ARR
ARR is a renewable energy royalty company whose business is to provide long-term, royalty level investment capital to renewable power developers, operators, and originators. ARR has 33 renewable energy royalties representing approximately 1.4 GW of renewable power on operating projects and an additional approximate 6 GW on projects in development phase, across several regional power pools in the
Forward-looking information
This news release contains forward-looking information as defined under Canadian securities laws which reflect management’s current expectations. Some of the specific forward-looking statements contained herein include, but are not limited to, the projected revenues on the Royalty. The statements are based on reasonable assumptions and expectations of management and ARR provides no assurance that actual events will meet management's expectations. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although ARR believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Readers should not place undue reliance on forward-looking information. ARR does not undertake to update any forward-looking information contained herein except in accordance with securities regulation. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements. Additional information about risks and uncertainties is contained in the filings of ARR under the Company’s profile at www.sedar.com.
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