Altius Renewable Royalties Corporation’s subsidiary, Great Bay Renewables LLC, has partnered with Nokomis Energy, LLC to secure future royalties from Nokomis’s solar development projects. According to the company, the portfolio includes 77 projects across seven states, with a total investment of up to $30 million over the next two to three years, starting with an initial $6 million. Great Bay will receive a minimum of 3% gross revenue royalties on each project until a target return is reached and may also receive a portion of the sales proceeds. Additionally, Great Bay has an option to invest an extra $15 million in future royalty financing. Great Bay was advised by CCA Capital LLC and Pierce Atwood LLP, while Nokomis was advised by Javelin Capital.
Great Bay partners with Nokomis
Nokomis Energy’s solar development portfolio spans 77 projects across seven states, with significant investment from Great Bay. (Image Credit: Pexels)
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