First-of-its kind financer fuels clean energy with financing mechanism typically used for oil and gas
Portsmouth, NH – BayCorp Holdings, Ltd. is pleased to announce the launch of Great Bay Renewables, LLC (www.greatbayrenewables.com), a first-of-its-kind investment firm that is breathing new life into clean energy projects by adapting a royalty investment model traditionally used in the mining and fossil fuel industries.
Great Bay Renewables hit the ground running with the recent closing of its first financing deal with Gravity Renewables, Inc. for the support of hydroelectric and solar projects in northern Vermont.
The Portsmouth-based renewable royalty investment firm fills a crucial void experienced by clean energy providers seeking to leverage rapidly advancing technologies during a time when governmental incentives are ramping down.
“The royalty model provides complete alignment with the project owners and shouldn’t be reserved for mining or fossil fuel projects. Our renewable royalty investments will help drive renewable energy at a critical time in the industry’s development,” said Frank Getman, President and CEO of Great Bay.
Great Bay Renewables takes a concept that has been around for decades in oil, natural gas, precious metals and mining and applies it to the renewable energy sector. The company’s senior management team has over 100 years of experience in developing, financing, constructing, owning and operating numerous forms of renewable energy.
“With government incentives winding down and greater uncertainty in the tax-equity market, we believe the timing is ripe for innovative, market-based financing products to support the continued growth of clean energy. Overwhelming interest from potential partners suggests the renewable energy market agrees,” Getman added.
Great Bay Renewables is actively seeking additional opportunities to invest significant amounts of capital through renewable royalties at all stages of a renewable project’s lifecycle, from development, through construction and operations.
About Great Bay Renewables
Great Bay Renewables provides capital to the renewable energy sector in exchange for royalties in renewable energy generating facilities at all stages in their life cycle. Great Bay’s management team has over 100 combined years of experience in renewable energy development, financing and operations across a range of renewable technologies located throughout the U.S. Learn more about Great Bay Renewables at www.greatbayrenewables.com or contact us at (603) 294-4850.