Altius Minerals Corporation Increases Ownership Interest to 50% in Great Bay Renewables in Partnership with Northampton Capital Partners
Altius doubles its effective GBR stake to 50% for us$168m, consolidating its renewable royalty growth engine.
Altius Minerals Corporation (ALS) has signed a tripartite share purchase agreement to increase its effective interest in Great Bay Renewables Holdings, LLC (GBR) from 29% to 50%. The transaction involves Apollo Funds selling its 50% direct interest in GBR to Northampton Capital Partners for approximately US$390 million, while Altius simultaneously acquires Northampton’s minority interest in Altius Renewable Royalties Corp. (ARR) for US$168 million.
Post-closing, Altius and Northampton will each hold a 50% stake in GBR, with the company’s management team led by Frank Getman continuing in their roles. The deal is funded from existing liquidity and adjusted credit facilities, reflecting Altius’s recent balance sheet integration of Lithium Royalty Corp. Closing is expected in late July 2026. GBR’s portfolio has almost 9 GW of generation under royalty, and the transaction marks Altius’s commitment to the U.S. electricity demand growth theme.
Altius Minerals Corporation (ALS) has completed a transaction that nearly doubles its effective ownership in Greenbacker Renewable Energy (GBR) from 29% to 50%. The deal transforms Altius’s previously indirect, minority interest into a 50-50 partnership with equal governance, simplifying the corporate structure and increasing per-share exposure to the renewable royalty platform.
The $168 million purchase price is being funded using $128 million in cash held as of Q1 2026 and expanded credit facilities, resulting in no equity dilution. GBR’s revenue trajectory remains strongly upward, supported by 14 operating royalties and a 311 MW construction-stage project known as Coles Wind. This increased stake is expected to materially amplify future royalty revenue and EBITDA contributions against a backdrop of growing U.S. electricity demand and higher power purchase agreement (PPA) prices.
The transaction was not telegraphed in prior releases, representing new information that is expected to be accretive to Altius’s net asset value and market sentiment.
Altius Minerals Corporation (ALS) is a diversified royalty company with assets spanning base and battery metals, potash, iron ore, and renewable electricity. The company operates a project generation business that originates projects and sells them in exchange for royalties and equity.
Flagship royalties include a 0.5% NSR on the Arthur Gold Project in Nevada, which holds approximately 16 moz of gold; a 3% GSR on the Kami iron ore project in Labrador; a copper stream on Chapada in Brazil; a Voisey’s Bay nickel and copper royalty; and a 37-royalty lithium portfolio acquired through LRC. Additionally, GBR serves as a U.S.-focused renewable electricity royalty platform with nearly 9 GW of wind, solar, and battery storage under royalty.
Altius also holds a junior equity portfolio valued at approximately $70M at the end of Q1 and an approximately 8% stake in Labrador Iron Ore Royalty Corp.