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RE Royalties Acquires Royalties On 40MW Operational Solar Parks In Southern Ontario

RE Royalties Ltd. is pleased to announce that it has acquired a portfolio of gross revenue royalties on four separate operational solar parks in Ontario, Canada from Fresh Air Energy Inc. for $1.87 million.

The Ontario Solar Projects are owned and operated by Northland Power Inc. and have a generation capacity of 40 MW and have been in operation since 2013. The Ontario Solar Projects generate approximately 60,000MWh of clean energy per year; capable of removing 2,971 tonnes of CO2 equivalent (1) from the electricity grid or providing clean electricity to 6,600 homes in Ontario annually (2).

Bernard Tan, CEO of the Company, commented, “We are pleased to acquire this portfolio of royalties from Fresh Air, in order for Fresh Air to be able to utilize this capital to bring clean affordable energy to their current initiatives in Africa. Furthermore, we are excited to be part of these Ontario Solar Projects that are operated by Northland Power. Northland is a Canadian leader in building and operating renewable energy projects in Ontario and also globally. This transaction demonstrates the strength of the royalty financing model in creating a win-win solution for our clients, shareholders and the environment.”

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