Altius Renewable Royalties Corp. has announced that its jointly controlled subsidiary, Great Bay Renewables, has entered into a transaction with U.S. renewable energy developer Hodson Energy to gain future royalties related to Hodson’s portfolio of solar-plus-battery-storage development projects.
Great Bay is jointly controlled by ARR and certain funds managed by affiliates of Apollo Global Management, Inc.
New York-based Hodson is committing its entire portfolio of solar-plus-storage projects located primarily in the Mid-Atlantic region of the United States and any additional projects added in the future to this new royalty investment structure with Great Bay. Great Bay will receive a royalty on all projects developed and vended by Hodson until a minimum total return threshold is achieved.
The $40 million royalty investment into Hodson will be invested in tranches during approximately the next three years as Hodson achieves project advancement milestones, wit