Altius Renewable Royalties Corp. (ARR) says its jointly controlled subsidiary, Great Bay Renewables LLC, has closed a follow-on royalty investment of $20 million with Apex Clean Energy related to Apex’s portfolio of wind, solar and energy storage development projects across North America.

Great Bay provided an initial $35 million in royalty financing to Apex in March 2020, with agreed mutual options for additional funding.

ARR is a recently formed renewable energy company whose business is to provide long-term, royalty-level investment capital to renewable power developers, operators and originators through its joint venture, Great Bay, with Apollo Fund.

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