Capacity: 38.7 MW
Location: Romania
Operational: 2012-2014
Estimated Annual Generation: 73.3 GWh
Total Projects: 6
Background:
JadePower, previously known as Blockchain Power Trust, is an independent power producer that trades on the TSX Venture Exchange. Their portfolio includes operational wind, solar and run of river hydro projects located in Romania.
The Problem and Our Solution:
JadePower needed financing to support the acquisition of another project, a wind project totalling 17 MW. RE Royalties was able to help by providing them with a three-year loan, with interest-only payments and a bullet principal repayment at the end of the term. As part of the transaction, RE Royalties also received a 20-year gross revenue royalty from 6 projects: 1 wind, 2 solar, and 3 run of river hydro.
This helped JadePower double the size of their MW under ownership and to utilize cash flow from the newly acquired project to pay down the loan. This transaction also enabled them to restructure their balance sheet and acquire an additional project to further increase their assets under ownership. Raising equity in the public markets would have been very costly for them and our short term loan provided maximum operational flexibility compared to traditional mezzanine debt.
Learn more about JadePower here:
Website: https://www.jadepower.com/
Social Media: LinkedIn - JadePower
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.