Great Bay Renewables has closed an additional $25 million royalty investment in Tri Global Energy’s (TGE) portfolio of wind and solar energy development projects located across the United States.
This follow-on investment in TGE is the first investment made by Great Bay following the recently announced joint venture between certain funds managed by affiliates of Apollo Global Management and Altius Minerals Corp.’s subsidiary Altius Renewable Royalties Corp. to accelerate the growth of Great Bay’s innovative renewable energy royalty business.
The additional investment into TGE is an extension of the current $30 million royalty investment that Great Bay made in TGE in early 2019, bringing the total royalty capital commitment to $55 million. As TGE develops and sells individual projects, Great Bay receives a gross revenue royalty on each project for the full life of the project. To date, TGE has sold nearly 1 gigawatt of renewable energy projects subject to the Grea
