Altius Renewable Royalties Announces New US$45MM Financing of U.S. Solar, Solar Plus Battery Storage and Standalone Storage Developer With 5.3 GW Pipeline
ST. JOHN’S,
Hexagon, based in
Transaction Terms
The
As individual pipeline projects are developed, Great Bay will receive a
As part of the transaction, Great Bay has the option to invest an additional
Commenting on the new partnership with Hexagon, Frank Getman, CEO of Great Bay, said “Matt Hantzmon and Hexagon have an impressive track record of success. We are excited to add another high-quality developer to our developer royalty financing portfolio. Our financing program has helped create significant entity value for our other development partners, and we are confident that our flexible, partner-like capital, coupled with Hexagon’s attractive portfolio and experienced team, will again result in a winning formula.”
“Over the past 7 years Hexagon has built a world-class development team with a robust and growing pipeline over 5 GW,” said Matt Hantzmon, Founder and CEO of Hexagon Energy. “The passage of the IRA and support from the Great Bay development facility has created the predictability and incentives we need to aggressively invest and grow our team and development pipeline. Our partnership with Great Bay will also allow us to expand our geographic reach, currently focused on; PJM, MISO, ISO-NE, SERC, and ERCOT to add SPP, WECC, and CAISO projects to our growing project pipeline. The team at Great Bay has shown a keen understanding of development and ways to accelerate that. We look forward to working with the Great Bay team to scale Hexagon.”
Great Bay was advised on this transaction by an advisory team from CCA Capital LLC led by Martin Pasqualini and a legal team at Pierce Atwood LLP led by Kris Eimicke. Hexagon Energy was represented by a legal team at JWM Law, PLLC led by Cliff Moorman.
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 currently has 10 renewable energy royalties representing 2,068 MW of renewable power on operating projects, and an additional approximately 6.0 GW on projects in the construction and development phases, across several regional power pools in the
Forward-looking information
This news release contains forward‐looking information. 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. 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.
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Flora Wood, Corporate Secretary
Email:Flora@arr.energy
Tel: 1.877.576.2209
Direct: +1(416)346.9020
Ben Lewis, CFO
Email:Ben@arr.energy
Tel: 1.877.576.2209
Source: Altius Renewable Royalties Corporation