Great Bay Renewables

Great Bay Renewables, a Portsmouth, New Hampshire-based company, operates as a specialized finance provider for the renewable energy sector. Established in 2017 by Frank Getman, an energy executive with over two decades of experience, the firm has positioned itself as a key player in renewable energy royalty investments. Getman's extensive background, including his tenure as President and CEO of the diversified merchant energy company BayCorp Holdings, Ltd., provided a strong foundation for Great Bay's business model. The management team is composed of individuals with deep project development, finance, and operational experience in the energy sector, many of whom also worked together at BayCorp.

The company's core business revolves around providing capital to renewable energy developers and project owners in exchange for royalty interests on the project's future revenues. This royalty financing model, adapted from the oil, gas, and mining industries, offers an alternative to traditional debt or equity financing. It provides developers with flexible capital that can be used for various stages of a project's lifecycle, including development, construction, operations, repowering, and acquisitions. Great Bay's clients are renewable energy developers of technologies like solar, wind, hydroelectric, and energy storage across North America. Revenue is generated through gross revenue royalty agreements on each project, which last for the full life of the facility.

Functioning as the operating company of a 50/50 joint venture between Altius Renewable Royalties Corp. and funds managed by affiliates of Apollo Global Management, Great Bay has significant financial backing. This structure allows it to fund typical investment sizes ranging from $20 million to $50 million per deal. The company has committed nearly $500 million in royalty capital across numerous projects. Notable investments include financing for developers such as Tri Global Energy, Hodson Energy, Hexagon Energy, and Nokomis Energy, facilitating the growth of their project pipelines.

Keywords: renewable energy finance, royalty financing, project finance, solar energy investment, wind energy investment, energy storage capital, clean energy royalties, infrastructure investment, project development capital, alternative financing, Frank Getman, Altius Renewable Royalties, Apollo Global Management, renewable project lifecycle, asset-backed financing, energy royalties, clean tech finance, green energy funding, North American renewables, distributed generation finance