MINNEAPOLIS, July 31,
2024 /PRNewswire/ -- Nokomis Energy has finalized a
$30 million investment from Great Bay
Renewables, a leading renewable energy investment fund.
Nokomis Energy has finalized a $30 million investment from Great Bay Renewables,
a leading renewable energy investor.
This investment enables Nokomis Energy to expand its growing
portfolio of distribution-sited projects across the Midwest.
Nokomis is focused on delivering clean, competitive electricity on
the distribution grid, recognizing that communities cannot meet
their energy needs solely through transmission-sited electricity
generation.
Brendan Dillon, Co-Founder and
President of Nokomis Energy, expressed enthusiasm about the
partnership, stating, "We are excited about the impact of our
collaboration with Great Bay on our ability to deploy distributed
generation projects in established and emerging markets across the
Upper Midwest. Leveraging Great Bay's proven expertise in
supporting utility-scale project developers, we aim to replicate
this success in expanding our distributed generation platform. This
investment enables us to adopt a long-term perspective in
delivering clean energy solutions tailored to the communities where
we live and work."
Commenting on the new partnership with Nokomis, Frank Getman, CEO of Great Bay, said, "The
Nokomis team has an outstanding track record of development success
in and around their home market of Minnesota, having commercialized over 45
projects to date. With Nokomis, we are making our first dedicated
investment into the distributed solar market. Distribution-scale
solar represents an exciting diversification opportunity for Great
Bay. Our flexible, partner-like capital has helped create
significant value for our existing development partners and we
believe this investment will give Nokomis the resources to advance
its existing portfolio and scale the platform."
About Great Bay Renewables
Great Bay Renewables, based in Portsmouth, New Hampshire, provides capital to
the renewable energy sector in exchange for royalties in renewable
energy generating facilities at all stages in their life cycle. To
date, Great Bay has committed more than $400
million in royalty financing into the renewable energy
sector and has created royalty agreements on over 35 renewable
energy projects totaling nearly 8.2 GW. Great Bay's management team
has extensive experience in renewable energy development,
financing, and operations across a range of renewable technologies
located throughout the United
States. Great Bay is backed by Altius Renewable Royalties
Corp. (TSX: ARR) (OTCQX: ATRWF) and certain funds managed by
affiliates of Apollo (NYSE: APO). Learn more about Great Bay at
www.greatbayrenewables.com or follow us on LinkedIn.
About Nokomis Energy
Nokomis Energy, based in Minneapolis,
Minnesota, is a clean energy development platform that
focuses on 1-30MW distribution grid-sited clean energy projects
across the Upper Midwest. Nokomis Energy partners with local
organizations, businesses, and utilities to identify opportunities
for clean energy projects that help them transition to clean energy
resources. Since its founding in 2017 Nokomis has developed more
than 45 projects across all three primary market categories
including Community Solar, Behind-the-Meter, and Direct-to-Utility.
Learn more about Nokomis Energy at www.nokomisenergy.com or follow
us on LinkedIn.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/nokomis-energy-announces-30-million-investment-from-great-bay-renewables-302210293.html
SOURCE Nokomis Energy