Altius Renewable will recover two royalties of 3% and 1.5% on the sale of a wind and a solar project in Indiana respectively.
The two wind farms, totalling 580 MW, will be sold by Tri Global Energy (TGE) to Canada’s Leeward Renewable Energy.
Altius Renewable recovers 4.5% of cumulative royalties
Canadian company Altius Renewable Royalties reports that its partner Tri Global Energy has completed the sale of two projects.
The 400 MW Hoosier Line Wind solar project and the 180 MW Honey Creek Solar wind project will be sold to Leeward Renewable Energy.
Both facilities will be located in White County, Indiana (USA).
Both sales result in the creation of two royalties: 3% on the wind farm and 1.5% on the solar project.
Financing will be provided by Great Bay Renewables LLC, owned among others by Altius Renewable.
These are the fourth and fifth projects for which the company is eligible to receive royalties.
An agreement to “develop clean energy
The five royalties ultimately represent approximately 1,520 MW of new renewable energy projects.
Commenting on the partnership, Great Bay CEO Frank Getman said,
“Tri Global continues to excel in bringing new renewable energy projects to market to help accelerate our transition to a clean energy future. We are therefore delighted to be able to support Tri Global in this important work”.
These “royalties” received by Altius Renewable are the result of an agreement reached with TGE in 2019.
The latter has signed a partnership with Great Bay to complete and finance the development of these projects.
This financing therefore takes the form of royalties for owner companies like Altius.
