Longroad gets royalty investment for 250 MW Prospero 2 solar project in Andrews County

Altius Minerals Corporation has granted a US$35 million nobility financial investment to Longroad Energy Holdings LLC for its 250 MW (331 MWdc) Prospero 2 solar park in Texas. The bargain was structured using nobility prices that vary in time. The financial investment was made through Great Bay Renewables, a subsidiary that Altius Renewables controls collectively with funds handled by associates of Apollo Global Management.

Great Bay is anticipated to gain a return of 8%-12% on its investment over the preliminary life of the project. Aristocracy income will begin accumulating in January 2022 as well as increase after the initial 5 years of procedure of the solar facility.