Our Royalties

Royalties

Project Sponsor
Project Size
Status
Royalty
Expected COD
Gravity Renewables
5MW
Operational
10.0%
Operational
WEC Energy/ Invenergy
195MW
Construction
2.5%
Q4 2021
Silverpeak
360MW
Late-Stage Development
3.0%
Q2 2022
Copenhagen Infrastructure Partners
400MW
Mid-stage Development
3.0%
Q4 2022
Silverpeak
180MW
Mid-stage Development
1.5%
Q1 2022
Undisclosed
400MW
Mid-stage Development
1.5%
Q1 2023
Gravity Renewables
175MW
Mid-stage Development
1.5%
-
Leeward
180MW
Mid-stage Development
3.0%
Q1 2023
Leeward
200MW
Mid-stage Development
3.0%
2023
Leeward
150MW
Mid-stage Development
1.5%
2023

Royalties

5MW
Operational
10.0%
2.5%
Q4 2022
Q4 2021
Construction
Gravity Renewables
Project Sponsor
Status
Developer
Expected COD
Project Size
Royalty
Hydro
Operational
Energy Type
Location
Kansas
Vermont
195MW
Q4 2023
Late-Stage Development
360MW
3.0%
3.0%
Silverpeak
WEC Energy/ Invenergy
Wind
APEX
GBR
Wind
TGE
Texas
Mid-stage Development
400MW
Q4 2022
1.5%
1.5%
Copenhagen Infrastructure Partners
Mid-stage Development
Mid-stage Development
400MW
Silverpeak
Q4 2023
Mid-stage Development
180MW
Solar
Leeward
Solar
Wind
TGE
TGE
TGE
Q4 2022
1.5%
175MW
3.0%
Q4 2023
Q4 2023
Q4 2023
Mid-stage Development
Mid-stage Development
3.0%
180MW
200MW
150MW
Leeward
Undisclosed
Wind
Wind
TGE
1.5%
Mid-stage Development
Leeward
Leeward
Solar
Wind
TGE
TGE
Texas
Illinois
Indiana
Texas
Flatland
Honey Creek
Appaloosa
Indiana
TGE
Indiana
Indiana
Blackford Wind
Blackford Solar
Hoosier Line
Panther Grove
Canyon
Jayhawk
Clyde River
Project

Our Partners

Tri Global Energy

ARR first invested in leading Texas based wind developer Tri Global Energy (“TGE”) in February 2019. The US$55 million investment was structured in a way that as TGE sold projects from their large portfolio of development projects, a gross-revenue royalty would be payable to ARR on wind and solar projects as they are developed and sold. Additional royalties will continue to be created until a certain return threshold is met at which time no additional royalties will be created. Wind and solar projects with royalties payable to ARR will continue to generate cashflow for the life of these projects.

To date, TGE has developed and sold projects that have a royalty to ARR as follows:

  • First royalty project, Canyon Wind (360 MW – TX), sold in October 2019 to Silverpeak Strategic Partners with operations expected to begin in Q2 2022
  • Woodford Wind (400 MW – IL) sold to Copenhagen Infrastructure Partners in December 2019 with operations expected to begin in Q4 2022
  • Flatland Solar (180 MW – TX) sold to Silverpeak Strategic Partners in March 2020 with operations expected to begin in Q2 2022
  • TGE development pipeline eligible for future royalties has increased to over 3,500 MW (even after accounting for the 940+ MW in project sales)

Apex

Structured in a similar manner to the TGE investment, ARR invested US$35 million in March 2020 into Apex Clean Energy (“Apex”). The funds help Apex expand one of the largest development portfolios in the United States. Apex is one of the largest renewable energy developers in the United States and has commercialized over 6.5 GW of clean energy projects since its inception in 2009. Its current portfolio includes approximately 26 GW of development projects, a portion of which (approx 5 GW) are excluded from the agreement with ARR due to their advanced stage and sales already in process. Apex typically sells these projects to utilities, infrastructure funds and other institutional investors prior to construction.