At RE Royalties, we're committed to accelerating the global shift to a sustainable future by supporting impactful renewable energy projects. Our partnership with Scotian WindFields Inc. (SWFI), a renewable energy company based in Halifax, Nova Scotia, exemplifies how innovative financing can make a meaningful difference in reducing carbon emissions, empowering communities, and driving the clean energy transition.
A Partnership for Sustainability
In February 2020, RE Royalties acquired a portfolio of 12 gross revenue royalties from SWFI for $1.34 million, along with providing a $3.3 million senior secured loan with a three-year term. These royalties are tied to 12 operational wind energy projects across Nova Scotia, which collectively boast a generating capacity of 39.7 megawatts and 20-year power purchase agreements with Nova Scotia Power Incorporated (NSPI).
Developed between 2013 and 2017, the projects generate approximately 130,000 megawatt hours of clean energy annually—enough to power 14,600 homes. The environmental impact? An offset of over 105,000 tonnes of CO2 equivalent every year.
Making an Impact
This collaboration is about more than just numbers; it’s about creating lasting change for Nova Scotia’s communities and environment:
Clean Energy for a Cleaner Planet: The SWFI wind projects harness natural wind power to deliver clean electricity, reducing harmful greenhouse gas emissions and preserving air and water quality.
Community-Centered Development: By collaborating with Indigenous groups, farmers, and other local stakeholders, SWFI ensures community voices are heard and their needs are prioritized. A 1% gross revenue donation from local projects to non-profits underscores their commitment to social responsibility.
Sustainability in Action: With turbines strategically placed to minimize environmental disruption, SWFI upholds strict ecological standards during construction and operation.
Economic Empowerment: By sourcing materials and services locally, the projects strengthen Nova Scotia’s economy while further reducing their carbon footprint through minimized transportation emissions.
The Path to Net Zero
SWFI is playing a pivotal role in helping Nova Scotia achieve its net-zero carbon goals. The company’s wind power projects not only provide renewable energy, but also offer long-term dividends to the communities they serve. This approach ensures sustainability on multiple fronts—economic, social, and environmental.
Joe Fitzharris, President of Scotian WindFields Inc., reflects on the impact of this partnership:
“We're pleased to have RE Royalties help us secure our ownership in these important community projects. Our local shareholders will now have a better opportunity to realize return on their invested capital, and securing our long-term financial stability will allow us to continue exploring ways to support community development while reducing carbon intensity.”
Building a Greener Future
The partnership with SWFI demonstrates how RE Royalties is driving the renewable energy revolution by offering innovative financing solutions. By empowering projects like the Nova Scotia Wind Portfolio, we are not only helping to lower carbon emissions but also fostering economic growth, community development, and environmental stewardship.
As we continue to build a more sustainable future, collaborations like these remind us of the power of working together to combat climate change and ensure a cleaner, greener tomorrow.
RE Royalties' royalty financing solutions are designed to provide renewable energy operators and developers with the financial flexibility to grow without resorting to dilution, asset sales or restrictive debt covenants. If you're looking for financing for your renewable energy project, please contact us to explore how we can support your vision.
Learn more about our project financing options here.
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