BusinessAltius Renewable Royalties Stories Sturdy Q3 Enterprise Growth Milestones

Altius Renewable Royalties Stories Sturdy Q3 Enterprise Growth Milestones


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ST. JOHN’S, Newfoundland and Labrador, November 08, 2021–(BUSINESS WIRE)–Larger Renewable Royalties Corp (TSX: ARR) (OTCQX: ATRWF) (“ARR” or the “Firm”), will file on SEDAR monetary outcomes for the quarter ended September 30, 2021 as we speak after the shut of buying and selling with a convention name to comply with November 9, 2021 at 9 am ET.

Brian Dalton, CEO of ARR, commented as follows: “This was a really notable quarter within the enterprise growth historical past of ARR as adoption of our revolutionary royalty financing buildings throughout the US renewable power sector continued to develop. By closing our first two investments in working stage belongings, the potential addressable marketplace for our royalty funding has widened dramatically, whereas demand for tasks stemming from our developer funding initiatives additionally continued to be robust. In consequence, the anticipated timeline to realize the milestone of optimistic money stream has been accelerated to 2022 – and elevated our perception within the optimistic position we are able to play in supporting the clear power transition.”

Q3 2021 Enterprise Highlights

  • A complete of US$87.5 million in royalty-based financing was deployed throughout the quarter on working stage tasks by Nice Bay Renewables (“GBR”), a three way partnership firm of ARR and funds managed by associates of Apollo International Administration, Inc. (NYSE: APO) (“Apollo Funds”). On account of these investments Apollo Funds accomplished its funding obligations to earn a 50% curiosity within the GBR three way partnership and the companions have subsequently begun to fund alternatives on an equal foundation.

    • On August 3, 2021 ARR introduced the closing of a US$35 million royalty funding with Longroad Vitality (“Longroad”) referring to its 250 MW Prospero 2 photo voltaic mission in Texas. This represented the primary working royalty funding made by GBR, with annual income contributions anticipated to begin in January 2022 utilizing royalty charges that adjust over time. Longroad is a top-tier developer, proprietor and operator of renewable power tasks, having developed over 60 renewable power tasks totaling over 6 GWs throughout North America.

    • On September 30, 2021 ARR introduced the closing of a US$52.5 million royalty funding with Northleaf Capital Companions (“Northleaf”) associated to the 150 MW Previous Settler wind mission, the 50 MW Cotton Plains wind mission and the 15 MW Phantom Photo voltaic mission. These three Texas based mostly tasks are all at the moment operational and commenced producing royalty income upon closing of the transaction. The royalty funding has been structured utilizing royalty charges that adjust over time and supply GBR with US$4-7 million per yr over the primary 10 years of the funding. Northleaf is a worldwide personal markets funding agency with US$17 billion in personal fairness, personal credit score, and infrastructure commitments below administration.

  • Development actions continued to progress on the 195 MW Jayhawk wind mission in Kansas with completion anticipated late in This autumn 2021. A 2.5% royalty referring to this mission was created and assigned to GBR upon its sale to WEC Vitality and Invenergy earlier this yr.

  • In the course of the quarter, a brand new developer financing-based royalty (2.5% of gross income) in favour of GBR was created on a 500 MW renewable power mission in Texas that’s at the moment anticipated to problem notice-to-proceed in early 2022.

  • Subsequent to quarter finish, a brand new developer financing-based royalty (2.5% of gross income) in favour of GBR was created on a 300 MW renewable power mission in Texas.

  • ARR, by means of its GBR three way partnership, is now entitled to royalties on 16 renewable power tasks representing roughly 3,510 MW of US based mostly wind and solar energy technology tasks which might be properly diversified by counterparty, contracted and market based mostly gross sales methods and regional energy swimming pools. Please check with the Administration’s Dialogue and Evaluation (“MD&A”) for added royalty and mission particulars.

Q3 2021 Monetary Outcomes

The money place of ARR at September 30, 2021 was US$54.9 million, after pro-rata funding roughly US$22.7 million of recent GBR investments throughout the quarter. The money available is out there to fund ongoing operations and deployment into renewable royalty alternatives with current and new companions.

For the quarter ended September 30, 2021, ARR reported a internet lack of US$1,410,500 and a internet loss per share of US$0.05. This compares to a internet lack of US$682,500 in Q2 2021, and a internet lack of US$349,700 in Q3 2020, when the Firm was wholly owned by Altius Minerals Company. The vast majority of royalties created to this point are on tasks which might be at numerous levels of growth and are subsequently not at the moment offering royalty income. Nonetheless, the Northleaf and Longroad transactions (referenced above) are on working belongings with first income anticipated to be recorded in This autumn this yr and Q1 subsequent yr, respectively. First income from a mission royalty created by means of developer financing buildings can also be anticipated in 2022 upon commissioning of the Jayhawk wind mission.

Convention Name Particulars

A convention name and webcast will probably be held November 9, 2021 at 9:00 am ET to offer an replace and to supply an open Q&A session for analysts and buyers. Entry particulars are as follows:


Nov 9, 2021


ARR Q3 2021 Monetary Outcomes Convention name and webcast, ID 9493986


1-866-521-4909 OR 1-647-427-2311


ARR Q3 2021 Outcomes

About ARR

ARR is a lately shaped renewable power firm whose enterprise is to offer long-term, royalty stage funding capital to renewable energy builders, operators, and originators. The Firm combines business experience with revolutionary, partner-focused options to additional the expansion of the renewable power sector because it fulfills its important position in enabling the worldwide power transition.

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Flora Wooden
E-mail: [email protected]
Tel: 1.877.576.2209
Direct: 1.416.346.9020

Ben Lewis
E-mail: [email protected]
Tel: 1.877.576.2209

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