Our Royalties

Altius Royalties map

 

Property Location Originator Energy Type Owner RTO Facility Size (MW) Status Expected COD Royalty Rate
Clyde River Great Bay Vermont Hydro Gravity Renewables ISO New England 5 Operational Completed 10% of revenue
Prospero 2 Longroad Energy Texas Solar Longroad Energy ERCOT 250 Operational Completed Variable1
Old Settler2 Northleaf Capital Texas Wind Northleaf Capital ERCOT 150 Operational Completed Variable1
Cotton Plains2 Northleaf Capital Texas Wind Northleaf Capital ERCOT 50 Operational Completed Variable1
Phantom2 Northleaf Capital Texas Solar Northleaf Capital DND 15 Operational Completed Variable1
Titan Solar Sunpin California Solar Longroad Energy CAISO 70 Operational Completed Variable1
Hansford County Wind Apex Texas Wind TBA SPP 658 Operational Completed Fixed per MWh
Jayhawk Apex Kansas Wind WEC Energy / Invenergy SPP 195 Operational Completed 2.5% of revenue
Young Wind Apex Texas Wind NextEra Energy ERCOT 500 Operational Completed 2.5% of revenue
Appaloosa TGE Texas Wind NextEra Energy ERCOT 175 Operational Completed 1.5% of revenue
Canyon TGE Texas Wind NextEra Energy ERCOT 308 Operational Completed

2.4% of revenue5

El Sauz Apex Texas Wind JERA Renewables ERCOT 300 Construction Q1 20243 2.5% of revenue
Panther Grove 1 TGE Illinois Wind Copenhagen Infrastructure Partner PJM 400 Construction 2025/20263 3% of revenue
Lawrence Solar TGE Pennsylvania Solar Enbridge6 PJM 175 Development 2025e+3 1.5% of Revenue
Blackford Wind TGE Indiana Wind Leeward PJM 200 Development 2025+3 3% of revenue
Blackford Solar TGE Indiana Solar Leeward PJM 150 Development 2025+3 1.5% of revenue
Honey Creek TGE Indiana Solar Leeward PJM 4004 Development 2025+3 1.5% of revenue
Hoosier Line TGE Indiana Wind7 Leeward PJM 180 Development 2025+3 3% of revenue
Shannon TGE Illinois Wind Enbridge6 PJM 150 Development 2025+3 3% of Revenue
Gloucester Solar TGE Virginia Solar Enbridge6 PJM 150 Development 2025+3 1.5% of Revenue
Sugar Loaf TGE Nebraska Wind Enbridge6 SPP 150 Development 2025+3 3% of Revenue
Cadillac Solar El Dorado TGE Texas Solar Enbridge6 ERCOT 400 Development 2025+3 1.5% of Revenue
Cadillac Solar Deville TGE Texas Solar Enbridge6 ERCOT 350 Development 2025+3 1.5% of Revenue
Vermillion Grove TGE Illinois Wind Enbridge6 PJM 255 Development 2025+3 3% of Revenue
Vermillion Solar TGE Illinois Solar Enbridge6 PJM 150 Development 2025+3 1.5% of Revenue
Wyoming I TGE Wyoming Wind Enbridge6 WECC 250 Development 2025+3 3% of Revenue
Easter Project TGE Texas Wind Enbridge6 SPP 300 Development 2025+3 3% of Revenue
Flatland TGE Texas Solar TBA ERCOT 180 Development 2025+3 1.5% of revenue equiv8
Water Valley TGE Texas Wind Enbridge6 ERCOT 150 Development 2026+3 3% of Revenue
Cone/Crosby III TGE Texas Wind Enbridge6 SPP 300 Development 2026+3 3% of Revenue
3 Early Stage TGE Projects TGE Western U.S. Solar Enbridge6   1011 Development TBA 1.5% of Revenue

Scroll to the right to see the table data.

Scroll to the right to see the table data.

Scroll to the right to see the table data.

Scroll to the right to see the table data.

FOOTNOTES

Note: Sum of wind and solar early-stage development projects related to Enbridge acquisition is 15 compared to 17 referenced in the Material Change Report filed Oct 5 2022 (see SEDAR) because of two multi-phase projects.
1Royalties with variable rates adjust under certain conditions, guaranteeing a minimum return threshold under certain timelines, after which a lower royalty percentage is applied

2While Old Settler Wind Project, Cotton Plains Wind Project, and Phantom Solar Project are three separate projects, GBR's investment was under one agreement, which includes the three projects as a single portfolio

3Expected COD based on internal assumptions and not detailed knowledge of construction date

4Facility size may be completed in phases

5Canyon sliding scale royalty between 2-3%, see ARR press release 06/29/2022

6Developer TGE was acquired by Enbridge, see ARR press release on 09/29/2022

7Project may be converted to solar

8Flatland fixed payments equivalent to 1.5%, see ARR press release 06/29/2022

Our Partners

Tri Global Energy

Through GBR, ARR first invested in Tri Global Energy (“TGE”), the premier Texas-based renewable energy developer, in February 2019. GBR's current $46.5 million royalty investment is structured in a way that as TGE sells projects from their large portfolio of development projects, a gross-revenue royalty agreement is distributed to GBR on the specific wind and solar projects as they are developed and sold. Additional royalty agreements will continue to be created at the time projects are sold or begin construction until a certain return threshold is achieved. Wind and solar projects with royalties payable to GBR will continue to generate cashflow for the life of these projects.

Tri Global EnergyIn October 2022, TGE was acquired by Enbridge Inc. Following the acquisition, GBR will continue to receive royalty contracts from projects in TGE’s current development pipeline until it hits its threshold return on its investment in TGE, with no further funding by GBR. After GBR receives enough royalty contracts for it to achieve its threshold return, it will have the option to acquire royalty agreements on remaining projects that are developed from TGE’s currently existing portfolio using an agreed-upon methodology that utilizes a similar return profile as for project royalties created prior to the threshold return being achieved.

To date, GBR holds royalty interests in 23 TGE-developed renewable projects ranging from 100 MW to 400 MW of capacity across the United States. Estimated COD dates are between Q4 2023 and 2028.

Northleaf Capital Partners

In Q3 2021, GBR closed a US$52.5 million royalty investment with Northleaf Capital Partners on three operating wind and solar projects, all in Texas. The portfolio includes the 151 MW Old Settler wind project, the 50 MW Cotton Plains wind project and the 15 MW Phantom Solar project, with the Old Settler output being sold into the ERCOT market, and the others being sold under fixed-price contracts with the US Department of Defense through 2045.

Longroad Energy

In Q3 2021, GBR closed a US$35M royalty investment with Longroad Energy on the 250MWac operating solar project in Texas, Prospero 2.GBR expects to earn a return of 8-12% on its investment, with royalty revenue starting at a lower level from 2022 – 2027 and then increasing materially. 

In December 2022, GBR entered into another transaction with Longroad Energy, acquiring a royalty on Titan Solar, an operating solar project in California.

Bluestar Energy Corporation

In Q2 2022, GBR closed a US$32.5M investment into anew global renewables development platform, Bluestar Energy Capital LLC founded by Declan Flanagan, former CEO of Orsted Onshore and Lincoln Clean Energy.  

Hodson Energy

In Q3 2022, GBR closed a US$40 million investment into Hodson Energy’s 1.8 MWac solar and battery storage portfolio which is concentrated in the mid-Atlantic region.

Hexagon Energy

In June 2023, GBR committed to invest US$45 million into Hexagon Energy, LLC, which is committing its portfolio of 43 development projects totalling 5.3 GWac located across 12 states and four regional transmission organizations. The projects are solar, solar plus storage and standalone storage.