The following is a summary of the Altius Renewable Royalties Corp. (ATRWF) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Altius Renewable Royalties Corp. reported a significant increase in quarterly revenue from Great Bay Renewables (GBR) to $3.1 million in Q2 2024, up 55% from $2 million in Q2 2023.

• Operating cash flow at GBR was $0.9 million for Q2 2024, slightly down from $1 million in Q2 2023, attributed to interest expenses related to new credit facilities.

• The company reiterated its revenue guidance for the full year 2024 to be between $13 million and $16 million.

Business Progress:

• Significant capital deployment achieved in the first half of 2024, approaching US$500 million at the joint venture level and holding royalties on multiple projects across major power regions in the U.S.

• Investments made in Q2 2024 include a $30 million royalty investment in Nokomis Energy and a $6.1 million interconnection deposit loan with Red Stone.

• Great Bay recently announced a $40 million follow-on investment with Nova Clean Energy, demonstrating continuous growth in renewable project commitments.

Opportunities:

• The strong demand for renewable energy is seen as an opportunity for increased revenues from power purchase agreements (PPAs), expected to grow due to a reported nearly 12% year-on-year increase in blended PPA prices for solar and wind.

• New investments such as the Nokomis Energy commitment, and strategic partnerships, like that with Nova Clean Energy, are expected to quickly bring cash flow and royalties, providing an opportunity for quicker returns compared to utility-scale projects.

Risks:

• Challenges in project interconnections, which is a significant factor delaying project progress and thus affects timely revenue generation.

• The reliance on a fully refundable interconnection deposit program with developers could pose risks if larger, non-refundable capital commitments are delayed.

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