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

Honey Creek
Indiana
250MW
Operational
Variable
Variable
Operational
Operational
Operational
Longroad Energy
Project Sponsor
Status
Developer
Expected COD
Project Size
Royalty
Solar
Operational
Energy Type
Location
Texas
Texas
150MW
Operational
Operational
50MW
Variable
Variable
Northleaf
Northleaf
Wind
Northleaf
Longroad Energy
Wind
Northleaf
Texas
Operational
15MW
Operational
2.5%
10%
Northleaf
Construction
Mid-stage Development
195MW
Gravity Renewables
Q4 2021
Operational
5MW
Wind
WEC Energy/ Invenergy
Hydro
Solar
Northleaf
Gravity Renewables
APEX
Q4 2022
1.5%
175MW
1.5%
TBA
TBA
Q4 2022
Mid-stage Development
Late-stage Development
2.5%
180MW
500MW
300MW
Silverpeak
NextEra Energy
Wind
Solar
TBA
2.5%
Late-stage Development
TBA
TBA
Wind
Wind
TGE
TGE
Texas
Texas
Kansas
Vermont
Clyde River
Jayhawk
Appaloosa
Texas
TBA
Texas
Texas
TBA
TBA
Flatland Solar
Phantom Solar
Cotton Plains
Old Settler
Prospero 2
Project
TGE
Solar
Leeward
400MW
Mid-stage Development
1.5%
Q4 2023
Panther Grove
Illinois
TGE
Wind
Copenhagen Infrastructure Partners
400MW
Mid-stage Development
3.0%
Q4 2023
Hoosier Line
Indiana
TGE
Wind
Leeward
180MW
Mid-stage Development
3.0%
Q4 2023
Blackford Wind
Indiana
TGE
Wind
Leeward
200MW
Mid-stage Development
3.0%
Q4 2023
Blackford Solar
Indiana
TGE
Solar
Leeward
150MW
Mid-stage Development
1.5%
Q4 2023
Canyon Wind
Texas
TGE
Wind
Silverpeak
360MW
Late-stage Developement
3%
Q4 2022

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.