Altius Renewable Royalties Provides Updated Information for Recently Announced Development Royalty

Rhea-AI Summary

Altius Renewable Royalties (ATRWF) announced a 2.5% gross revenue royalty for its joint venture, Great Bay Renewables (GBR), disclosed in Q3 results on November 8, 2021. The royalty is linked to JERA Co. Inc.'s acquisition of the 300 MW El Sauz wind project in Texas, with construction beginning in early 2022 and operations expected by Q4 2022. GBR, a partnership between ARR and Apollo Global Management (APO), focuses on financing renewable energy projects.

Positive

• Creation of a 2.5% gross revenue royalty for GBR, enhancing revenue prospects.
• Acquisition of the 300 MW El Sauz wind project expected to generate significant future revenue.
• Joint venture with Apollo Global Management strengthens financial backing for ARR.

Negative

• None.

ST. JOHN’S, Newfoundland--(BUSINESS WIRE)-- Altius Renewable Royalties (TSX:ARR) (OTCQX: ATRWF) (“ARR”) is pleased to provide updated information concerning the recent creation of a developer financing-based 2.5% gross revenue royalty in favor of its joint venture subsidiary, Great Bay Renewables (“GBR”), that ARR disclosed in its Q3 results press release issued on November 8, 2021. JERA Co. Inc. has announced that its subsidiary, JERA Renewables NA, LLC, has acquired the 300 MW El Sauz wind project in Texas and that it expects to begin construction in early 2022 with operations expected to start in the last quarter of the year. GBR is a joint venture company of ARR and funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (“Apollo Funds”).

About ARR

ARR is a recently formed renewable energy company whose business is to provide long-term, royalty level investment capital to renewable power developers, operators, and originators through its joint venture Great Bay Renewables. The Company combines industry expertise with innovative, partner-focused solutions to further the growth of the renewable energy sector as it fulfills its critical role in enabling the global energy transition.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211203005312/en/

Flora Wood

Email: Flora@arr.energy

Tel: 1.877.576.2209

Direct: +1(416)346.9020

Ben Lewis

Email: Ben@arr.energy

Tel: 1.877.576.2209

Source: Altius Renewable Royalties

FAQ

What is the significance of the 2.5% gross revenue royalty announced by ARR?

The 2.5% gross revenue royalty will enhance future revenue for Altius Renewable Royalties through its joint venture, Great Bay Renewables, tied to the El Sauz wind project.

When is the construction and operation of the El Sauz wind project expected to begin?

Construction of the El Sauz wind project is expected to begin in early 2022, with operations anticipated to start in the last quarter of 2022.

What is Great Bay Renewables' role in the renewable energy sector?

Great Bay Renewables, a joint venture of Altius Renewable Royalties and Apollo Global Management, provides financing solutions to renewable energy developers and operators.

Who acquired the El Sauz wind project and what is its capacity?

JERA Co. Inc. acquired the El Sauz wind project, which has a capacity of 300 MW.