Capacity: 102 MW
Location: British Columbia
Operational: 2009
Estimated Annual Generation: 193 GWh
Total Projects: 1
Background:
Aeolis Wind Power Corporation "Aeolis" was one of the original developers of the 102 MW Bear Mountain Wind Project, located in Northeast British Columbia. They ultimately sold their equity in the project to AltaGas, who then built the project. However, as part of the sale, Aeolis received a gross revenue royalty on the project.
The Problem:
Aeolis had other clean energy development opportunities and needed capital to pursue them. Unfortunately, the annual royalty payments were not enough to provide this funding.
Our Solution:
RE Royalties provided Aoelis with an upfront payment of $1.24 million in return for a portion of their existing royalty for the remainder of the power purchase agreement. By monetizing a portion of Aeolis' royalty, it allowed them to pursue further development opportunities while retaining a larger ownership position.
Learn more about the Bear Mountain partnership here:
Social Media: LinkedIn - Aeolis Wind.
RE Royalties' royalty financing solutions are designed to provide renewable energy operators and developers with the financial flexibility to grow without resorting to dilution, asset sales or restrictive debt covenants. Learn more about our project financing options here.