Altius Renewable Royalties - First Mover des Royalty Geschäftsmodells in den Sektor der erneuerbaren (Seite 2)

[KMST]

auf dem papier ist das der beste deal ever für altius.

- portfolio hat sich auf einen schlag um 50% vergrößert
- irr ist laut filling "material change report" on the upper end, sprich also ~12%
- option to receive a portion of the cash proceeds from project sales
- Great Bay will also receive a profit-sharing mechanism on revenue received by Hexagon from project sales up to a cap of a portion of the total amount invested by Great Bay, which does not count toward Great Bay’s target return
- Under the Operating Agreement, Great Bay has also been granted certain protective rights over certain operational matters of Hexagon Holdco. Great Bay also has the ability to replace Hexagon as the manager under the Operating Agreement upon the occurrence of certain events (and in certain cases subject to cure periods) including for cause, fraud, intentional misconduct, gross negligence, breach of its obligations under the Operating Agreement, bankruptcy, change of certain key personnel and failure to repay member loans within certain timeframes.
- Upon a default by Hexagon, Great Bay can exit the investment by requiring Hexagon to make a payment to Great Bay equal to the fair market value of the future royalty payments under the agreement on a pre-tax basis based on certain assumptions and as determined by a qualified appraiser.

hier sieht man deutlich das die firmen deutlichen kapitalbedarf haben aber sich die märkte auch deutlich abgekühlt haben.
kapital wird knapp und damit die position von kapitalgebern deutlich stärker!

läuft für altius...jetzt einfach weiter durchziehen.

[KMST]

Altius Renewable Royalties Announces New US$45MM Financing of U.S. Solar, Solar Plus Battery Storage and Standalone Storage Developer With 5.3 GW Pipeline

ST. JOHN’S, Newfoundland and Labrador, June 21, 2023--(BUSINESS WIRE)--Altius Renewable Royalties Corporation ("ARR") (TSX: ARR, OTCQX: ATRWF) is pleased to announce that its jointly controlled subsidiary, Great Bay Renewables LLC ("Great Bay"), has entered into a transaction with U.S. renewable energy developer, Hexagon Energy, LLC ("Hexagon"), to gain future royalties related to Hexagon’s portfolio of solar, solar plus battery storage and standalone battery storage development projects. Great Bay is jointly controlled by ARR and certain Apollo-managed funds (NYSE: APO).

Hexagon, based in Charlottesville, Virginia, is committing its portfolio of 43 development projects totalling 5.3 GWac located across 12 states and four regional transmission organizations as well as any additional projects added to its portfolio 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 Hexagon until a minimum target return threshold is achieved.

Transaction Terms

The US$45 million royalty investment into Hexagon will be invested in tranches over approximately the next three years as Hexagon achieves certain project advancement milestones, with an initial investment upon closing of US$15 million.

As individual pipeline projects are developed, Great Bay will receive a 2.5% gross revenue royalty on each solar and solar plus storage project and a 1.0% gross revenue royalty on each standalone storage project. This will continue until the target minimum total return threshold is achieved. Once created, individual royalties will continue for the full life of the solar and solar plus storage projects, and for seven years on standalone storage projects. Great Bay anticipates that the royalties on the standalone storage projects will contribute less than 5% of the total value received by Great Bay on its investment. In addition to royalties, Great Bay has the option to receive a portion of the cash proceeds from project sales. Any cash Great Bay elects to receive under this option would count toward the target return.

As part of the transaction, Great Bay has the option to invest an additional US$10 million into Hexagon as royalty financing in the future.

Commenting on the new partnership with Hexagon, Frank Getman, CEO of Great Bay, said "Matt Hantzmon and Hexagon have an impressive track record of success. We are excited to add another high-quality developer to our developer royalty financing portfolio. Our financing program has helped create significant entity value for our other development partners, and we are confident that our flexible, partner-like capital, coupled with Hexagon’s attractive portfolio and experienced team, will again result in a winning formula."

"Over the past 7 years Hexagon has built a world-class development team with a robust and growing pipeline over 5 GW," said Matt Hantzmon, Founder and CEO of Hexagon Energy. "The passage of the IRA and support from the Great Bay development facility has created the predictability and incentives we need to aggressively invest and grow our team and development pipeline. Our partnership with Great Bay will also allow us to expand our geographic reach, currently focused on; PJM, MISO, ISO-NE, SERC, and ERCOT to add SPP, WECC, and CAISO projects to our growing project pipeline. The team at Great Bay has shown a keen understanding of development and ways to accelerate that. We look forward to working with the Great Bay team to scale Hexagon."

Great Bay was advised on this transaction by an advisory team from CCA Capital LLC led by Martin Pasqualini and a legal team at Pierce Atwood LLP led by Kris Eimicke. Hexagon Energy was represented by a legal team at JWM Law, PLLC led by Cliff Moorman.

[KMST]

5 monate keine news...das gabs ja wohl noch nie.
scheinbar muss die pipeline an neuen deals der neuen zinsrealität noch angepasst werden.
die developer von den projekten sollten jetzt langsam aber sicher auch unter entsprechend höheren finanziellen druck geraten sein.

das dürfte potentiell bessere deals mit höheren renditen für altius ermöglichen.
ich denke der nächste deal wenn er kommt ist ein fettes gesamtpaket.

[KMST]

Antwort auf Beitrag Nr.: 73.690.832 von KMST am 18.04.23 15:28:58

Frank Getman, CEO of GBR, commented, “Our royalty revenue continues to ramp up as additional projects stemming from our developer-based agreements commission and as recent acquisitions of operating stage royalties are incorporated. Most royalties in our diversified portfolio performed well, however a mild winter and low natural gas prices have resulted in lower merchant power prices across regions of the country, and particularly impacted revenues from our royalty on the Old Settler project in West Texas. We anticipated lower revenues in Q1 compared to the remaining quarters in the year and as such maintain our full year revenue guidance of $11.5 million to $13.5 million for GBR. We also continue to see incredibly strong demand for GBR’s flexible, partner-like royalty financing with both developers and operating projects and expect to be able to deploy additional capital throughout the remainder of 2023.”

[KMST]

Altius Renewable Royalties (OTCQX:ATRWF) expects to report Q1 2023 proportionate royalty revenue of $1M compared to $0.6M in Q1 2022. This amount reflects ARR’s 50% ownership interest in Great Bay Renewables.

The company anticipates lower Q1 revenues compared to the remaining quarters in the year and re-affirms full year revenue guidance of $11.5 million to $13.5 million for GBR.

The company will announce financial results on May 5, 2023 after the close of trading.

[KMST]

Altius Renewable Royalties reports Q4 results

Altius Renewable Royalties Reports Q4 and Year-End 2022 Financial Results


ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)-- Altius Renewable Royalties Corp. (ARR:CA) (OTCQX: ATRWF) (“ARR” or the “Corporation”), is pleased to report its financial results for the fourth quarter and year ended December 31, 2022 with a conference call to follow March 2, 2023 at 9:00 am EST.

For the year ended December 31, 2022, ARR reported revenue of $0.8 million, proportionate revenue(1)(2) of $4.4 million and a net loss of $0.8 million. This compares to revenue of $0.1 million, proportionate revenue of $0.4 million and a net loss of $3.4 million for 2021. Total proportionate revenue in 2022 was comprised of $3.6 million in royalty revenue and $0.8 million in interest income.

For the quarter ended December 31, 2022, ARR reported revenue of $0.4 million, proportionate revenue of $1.2 million and net loss of $0.4 million. This compares to revenue of $0.03 million, proportionate revenue of $0.3 million and a net loss of $1.2 million in Q4 2021.

The underlying 50% owned Great Bay Renewables (“GBR”) joint venture reported $7.3 million in annual royalty revenue, exceeding previously estimated guidance of $6.5 million-$7.0 million. For 2023, GBR expects to realize annual royalty revenue of $11.5 million to $13.5 million based upon the current royalty portfolio and recent merchant price assumptions that reflect lower current natural gas prices and resulting lower power prices in several key markets.

Operating cash flows at GBR were $2.7 million in 2022 and are expected to grow in 2023 upon incorporation of two new operating stage acquisitions completed late in the year, the recent placement in service of the Young Wind (500 MW) and Appaloosa Run Wind (175 MW) projects, assigned through agreements with Apex Clean Energy (“Apex”) and Tri Global Energy (“TGE”), respectively, and the placement in service of the El Sauz (300 MW) project, which is expected shortly. Appaloosa Run represents the first cash flowing royalty from the TGE investment and Young Wind the second from the Apex investment. These royalties will provide cashflow for all of 2023 and for many years beyond as their associated projects transform the perpetual natural resource of wind into renewable energy. Furthermore, the Corporation continues to evaluate new royalty investment opportunities spanning the full spectrum of development to production stage assets, which could potentially augment its built-in growth profile.

New Royalty Investments

On December 20, 2022 GBR acquired an existing royalty interest on a portion of an operating wind project from Apex for $17.8 million after standard working capital and other adjustments. The project is an approximately 1 GW wind project located in Hansford County, Texas owned and operated by a top-tier renewables owner-operator. Under the royalty, GBR will receive a fixed dollar amount per megawatt hour produced from a distinct 658 MW of the project, which achieved commercial operations in September 2022. GBR expects the royalty to contribute approximately $1.5 million to its revenue in 2023.

On December 1, 2022 GBR entered into a $46 million royalty investment agreement with Longroad Energy (“Longroad”) to support Longroad’s acquisition of the 70 MWac Titan Solar project in Imperial County, California (“Titan”).

The royalty investment has been structured using royalty rates that vary over time and achieve GBR’s investment hurdles while optimizing Longroad’s project level cash flow profile. GBR expects its royalty on Titan to contribute approximately $3.0 million-$3.5 million to its revenues in 2023, and to average $4.0 million-$4.5 million annually over its first 10 years.

As of December 31, 2022 the Corporation held cash of $50.1 million and has 2023 expected commitments towards existing GBR investment agreements of approximately $13 million.

Commenting on the quarter and recently announced transactions, Frank Getman, CEO of GBR, said “It’s been a groundbreaking year for GBR, as we achieved positive cash flow well ahead of what we had forecast at the time of ARR’s IPO and proved multiple test cases for our innovative royalty financing. Counterparties have now used our financing for project development, as part of the capital stack for new renewables projects, especially those with some merchant exposure, restructuring existing projects, and for buying down or buying out unwanted hedges. We believe we are in the early innings of finding new and innovative ways for our royalty financing to be utilized to help optimize the value of renewables projects and accelerate the energy transition.”

Brian Dalton, CEO of ARR added that “The GBR joint venture continues to grow its portfolio of royalties at a pace that is exceeding our original expectations. The past year delivered several key milestones including positive cash flow generation, the graduation of three projects to operational status through our developer agreement pipelines, and the increased and more broadly-based adoption of our royalty financing by the renewable energy sector.”

[KMST]

Altius Renewable Royalties reports Q4 expected attributable royalty revenue of $0.9M and $3.6M for FY

Altius Renewable Royalties (OTCQX:ATRWF) expects to report Q4 2022 attributable royalty revenue of $0.9M, which compares to $0.2M of attributable royalty revenue recorded in Q4 2021.
On a FY basis, attributable royalty revenue increased to $3.6M from $0.3M recorded in 2021 and reflects the addition of operating royalties in 2022.
The 50% owned Great Bay Renewables joint venture revenue of $7.3M exceeded the increased guidance range of $6.5-$7M as disclosed in the press release dated October 17, 2022.
The Co. intends to provide 2023 revenue guidance with the release of its financial results on March 1, 2023.

[KMST]

hab zum jahresende nochmal 1000 shares zugekauft.
die verlockung war insgesamt zu groß in dem trillionen dollar großen markt einen beträchtlichen kuchen von vielen milliarden abzubekommen.

wenn alles gut geht wird ARR die bessere, neue next era energy. die franco nevada im renewable space. first mover adventage halt
der ausblick ist durch den inflation reduction act sogar noch enorm gestiegen

der us staat macht zusätzliche $369 billion locker (Energy Security and Climate Change programs over the next ten years)
und das on top auf diesen schon jetzt riesigen markt.

+ARR beginnt sich jetzt auch langsam auf dem weltmarkt umzusehen.
allein europa ist mindestens genauso groß

[KMST]

nächster deal

Altius Renewable Royalties (OTCQX:ATRWF) notifies that Great Bay Renewables, its subsidiary that is jointly controlled with funds managed by affiliates of Apollo Global Management to acquire an existing royalty pact on a portion of an operating wind project from Apex Clean Energy for $18M.
The project is an ~1 GW wind project located in Hansford County, Texas owned and operated by a top-tier renewables owner-operator.
Per the terms, Great Bay will receive a fixed dollar amount per megawatt hour produced from a distinct 658 megawatts of the Project which achieved commercial operations in September 2022.
The Royalty was originally created by Apex in conjunction with the sale of the development project.
Great Bay expects the Royalty to contribute ~$1.5M to its revenue in 2023.


den finde ich aber irgendwie nicht sonderlich attraktiv.
wie hier das ziel eines 10-12% irr erreicht wird? man sieht das ursprüngliche invest wenn alles gut geht erst nach 12 jahren wieder und hat noch keinen cent verdient.

ziemlich low

[KMST]

Altius Renewable Royalties Announces New Operating Royalty Investment and CDN$35 million Bought Deal Financing
December 1, 2022

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Altius Renewable Royalties Corp. (TSX: ARR) (OTCQX:ATRWF) (“ARR”, the “Corporation”, or the “Company”) reports that Great Bay Renewables II (“Great Bay”), its subsidiary that is jointly-controlled with funds managed by affiliates of Apollo Global Management (“Apollo”), has entered into a US$46 million royalty investment agreement with Longroad Energy (“Longroad”) to support Longroad’s acquisition of the 70 MWac Titan Solar project in Imperial County, CA (“Titan”).

Titan represents Great Bay’s first royalty investment in California. Longroad is a top-tier developer, owner, and operator of renewable energy projects that owns 1.5 GW of wind and solar projects across the US and operates and manages a total of 3.5GW on behalf of itself and third parties. Great Bay also holds a royalty on Longroad’s operating Prospero 2 solar project in Texas.

As part of the Titan acquisition, Longroad is buying down an existing hedge associated with the project such that starting in 2026 approximately 70% of the expected revenues will be market-based with the remainder relating to contracted capacity payments and renewable energy credits.

The royalty investment has been structured using royalty rates that vary over time and achieve Great Bay’s investment hurdles while optimizing Longroad’s project level cash flow profile. Great Bay expects its royalty on Titan to contribute approximately US$3 - $3.5 million to its revenues in 2023, and to average US$4.5-$5 million annually over its first 10 years.

ARR will fund its 50% share of the royalty investment with an equivalent amount funded by Apollo, its Great Bay level joint venture partner.

Frank Getman, CEO of Great Bay, commented, “Longroad is one of the best in the business. We are pleased to close our second royalty investment with Longroad, particularly as this investment proves a new use case for the adoption of our royalty financing, namely to support third-party project acquisitions. Our flexible, partner-like capital is increasingly proving itself to be competitive with other available sources of capital in the market today, with now approximately US$300 million in royalty investment agreements signed since inception.”

“Longroad is excited to once again work with Great Bay by using its innovative royalty financings part of our capital structure”, said Pete Keel, Longroad’s CFO. “Great Bay’s flexible, partner-like investment approach is a great fit with our business and we look forward to working with its team again in the future as we continue to grow our operational portfolio.”

Brian Dalton, CEO of ARR, commented, “Our Great Bay joint venture continues to steadily build upon its first mover advantage in bringing royalty financing to the renewable energy natural resource sector and to grow and diversify its portfolio of cash-flowing royalties. The new power region and use case attributes of the Titan royalty financing further support our outlook regarding the growing size of our potential addressable market as we continue to work to rapidly scale up the business. Today’s concurrent bought-deal equity financing announcement further supports this ambition with additional deployment-focused cash liquidity.”

CDN$35 Million Bought Deal Financing

The company is also pleased to announce that it has entered into an agreement with a syndicate of underwriters led by TD Securities Inc. (the “Lead Underwriter” and collectively the “Underwriters”) pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 3,900,000 common shares of the Company (the “Shares”) at a price of CDN$9.00 per Share (the “Issue Price”) for aggregate gross proceeds of approximately CDN$35 million (the “Offering”).

The company has granted the Underwriters an over-allotment option (the “Over-Allotment Option”) to purchase up to an additional 585,000 Shares at the Issue Price, exercisable in whole or in part at any time up to 30 days after the closing of the Offering.

Altius Minerals Corporation (“Altius”) is participating in the Offering and has committed to purchase approximately CDN$21 million in Shares at the Issue Price to allow Altius to maintain its approximate 59% ownership of the Company at closing of the Offering.

The Company intends to use the net proceeds from the Offering to fund its 50% of the acquisition price for Great Bay’s Titan royalty investment and for general corporate purposes.

The Offering is expected to close on or about December 8, 2022 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange (the “TSX”).

The securities to be issued under the Offering will be offered by way of prospectus supplement that will be filed in each of the provinces and territories of Canada under the Company's base shelf prospectus dated March 1,2022 and may be offered for sale in the United States to Qualified Institutional Buyers (as defined in Rule 144A under the United States Securities Act of 1933, as amended (the "1933 Act") by way of private placement pursuant to an exemption from the registration requirements of the 1933 Act.

The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.