Altius Renewable Royalties Enters into USD 30 Mn Investment with Apex
Altius Renewable Royalties reports that Great Bay Renewables announced it has entered into a USD 30 million royalty investment with Apex Clean Energy related to Apex’s 195 MWac Angelo Solar project in Tom Green County, Texas.
March 02, 2024. By News Bureau
Great Bay is jointly controlled by ARR and certain Apollo-managed funds, who have funded the transaction on an equal basis.
Apex is an established industry leader in origination, commercialization, construction and operation of utility-scale renewable energy projects, with one of the largest portfolios of renewable resources in the nation. The full capacity of Angelo will be sold to Meta under an environmental attribute purchase agreement.
The royalty investment has been structured using royalty rates that vary over time and achieve Great Bay’s investment hurdles.
Frank Getman, CEO of Great Bay, commented, “Angelo Solar is a great project with a strong off-take contract and should provide a stable stream of revenue to Great Bay for years to come. We are pleased to support Apex’s efforts to speed and shape the energy transition through this investment in a soon-to-be operating project.”
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.
please contact: contact@energetica-india.net.
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