on RE Royalties Ltd. (CVE:RE)
RE Royalties Announces $9 Million Investment in US Solar Projects
RE Royalties Ltd. has confirmed a substantial investment with Solaris Energy Inc., committing up to USD $9 million to acquire royalty interests in distributed generation solar projects across the United States. The agreement signifies the beginning of a partnership between the two entities, focusing on renewable energy developments.
The investment involves two portfolios: the first, consisting of 15 projects across several US states, will receive USD $4.8 million. An initial advance of USD $3 million is expected soon. The second portfolio includes nine prospective projects still under due diligence.
Peter Leighton of RE Royalties highlighted the firm's strategy to partner with renewable developers, like Solaris, to expand their solar assets. Solaris Energy CEO Nick Perugini sees this capital injection as pivotal in simplifying solar project finance for their growing pipeline.
R. H.
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