Renewable Energy Company Provides Additional US$20 Million Royalty Financing To Retail Supplier Affiliate

Altius Renewable Royalties Corp. ('ARR' or the 'Company') announced that its jointly controlled subsidiary, Great Bay Renewables, LLC ('Great Bay') has closed a follow-on royalty investment of US$20 million with Apex Clean Energy ('Apex') related to Apex’s broad portfolio of wind, solar and energy storage development projects located across North America.

Great Bay provided an initial US$35 million in royalty financing to Apex in March 2020, with agreed mutual options for additional funding.

As first reported by EnergyChoiceMatters.com, Apex Clean Energy Retail, a unit of Apex Clean Energy, is in the process of seeking an Option 1 Texas retail electric provider certificate

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, LLC. Apollo Fund ('Apollo') is earning into a 50% joint venture interest by investing US$80 million. The funding of this additional US$20 million will be funded by Apollo pursuant to its earn-in.