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RE Royalties Acquires Royalties on 40MW Operational Solar Parks in Southern Ontario
VANCOUVER, BC / ACCESSWIRE / June 19, 2019 / RE Royalties Ltd. (TSX-V: RE) ("RE Royalties" o...
About this update from Re Royalties Ltd.
[{"type":"text","content":"RE Royalties Acquires Royalties on 40MW Operational Solar Parks in Southern OntarioVANCOUVER, BC / ACCESSWIRE / June 19, 2019 / RE Royalties Ltd. (TSX-V: RE) (\"RE Royalties\" or the \"Company\") is pleased to announce that it has acquired a portfolio of gross revenue royalties on four separate operational solar parks in Ontario, Canada (\"Ontario Solar Projects\") from Fresh Air Energy Inc. (\"Fresh Air\") 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.\"About RE Royalties Ltd.RE Royalties acquires revenue-based royalties from renewable energy generation facilities by providing a non-dilutive financing solution to privately-held and publicly-traded renewable energy generation and development companies. The Company currently owns 63 royalties on solar, wind and hydro projects in Canada, Europe and the United States. The Company's business objectives are to provide shareholders with a strong growing yield, robust capital protection, high rate of growth through re-investment and a sustainable investment focus.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.On Behalf of the Board of Directors,Bernard TanCEOFor further details on RE Royalties, please visit www.reroyalties.com or contact us at (778) 374‐...