Altius Renewable Royalties Corp., expects to report Q4 2022 attributable royalty revenue of $0.9 million, which compares to $0.2 million of attributable royalty revenue recorded in Q4 2021. On a full year basis, attributable royalty revenue increased to $3.6 million from $0.3 million recorded in 2021 and reflects the addition of operating royalties in 2022. The 50% owned Great Bay Renewables (“GBR”) joint venture revenue of $7.3 million exceeded the increased guidance range of $6.5 - $7.0 million as disclosed in the press release dated October 17, 2022. The Company intends to provide 2023 revenue guidance with the release of its financial results on March 1, 2023.
Frank Getman, CEO of GBR, commented, “GBR’s renewable royalty model is clearly gaining acceptance as a viable and competitive financing alternative for both developers and operators in North America. We continue to see increased demand and remain on track to build our royalty portfolio significantly as the world continues its inevitable march towards cleaner sources of energy. Recent royalty acquisitions, including the Titan solar project in California, the 1 GW wind project in Hansford County, Texas, as well as 975 MW of projects, stemming from prior developer funding agreements, that are at or near commercial operations, will further augment 2023 revenue.”
