Re Royalties

What Re Royalties does

RE Royalties Ltd. is a Vancouver-based, publicly-traded specialty finance company founded in 2016 that pioneered the application of the royalty financing model (previously used in the commodities sector) to renewable energy. The company provides non-dilutive capital — typically in the CAD 10–20 million range — to small and mid-sized renewable energy project developers who fall below the minimum thresholds of traditional banks and large private equity funds. In exchange for capital, RE Royalties acquires revenue-based royalties (sliding scale gross revenue royalties or fixed annual royalties) with terms of 15–25 years, alongside shorter bridge loans (1–3 years at 8–10% interest).

The company's product surface consists of three offerings: (1) Royalty Financing (the core differentiated product), (2) Bridge Loans (supplementary short-term debt), and (3) Green Bonds (senior secured fixed-income securities used to raise capital from investors at 6–9% interest over five-year terms). The company has issued multiple green bond series since 2020 (Series 1 in 2020, Series 2 in 2021, Series 4 in 2024) and operates across North America, South America, and Asia. Its portfolio spans 121 active royalties across solar (77), wind/hydro/storage (22), and efficiency (2) projects, totaling 492 MW AC of installed capacity — enough to power approximately 152,194 homes and offset 488,813 tCO2e annually. The company holds the highest "Dark Green" rating from S&P Global Ratings for its Green Bond Framework and is ICMA-aligned.

RE Royalties generates revenue through three streams: (a) royalty income (percentage of gross revenue or gross margin from operational projects), (b) interest income from secured loans to developers, and (c) capital raised through green bond issuances to institutional and retail investors. The company goes to market primarily via direct enterprise sales to project developers, supplemented by investor conferences (CCIC, Microcap, Water Tower Research) and a public stock listing on the TSX Venture Exchange (RE), OTCQX (RROYF), and FSE (Y2V). As of March 2026, the Board has initiated a formal strategic review process — with PricewaterhouseCoopers Corporate Finance engaged as financial advisor — to evaluate a potential sale, strategic partnership, or capital structure optimization.

Name

Re Royalties

Legal name

RE Royalties Ltd.

Website

https://reroyalties.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

RE Royalties is a publicly-traded Vancouver-based specialty finance company founded in 2016 that provides non-dilutive royalty and bridge loan financing (typically CAD 10–20M) to small and mid-sized renewable energy project developers in exchange for long-term revenue royalties across North America, South America, and Asia.

Ownership category

akta.pro rank

Product category

Renewable Energy Finance

NAICS

Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) (533)

SIC

Mineral Royalty Traders (6795)

akta.pro primary industry

Private Credit — Royalty & IP-Backed Finance (FSAHAJAM)

akta.pro secondary industries

Revenue-Based Financing (RBF) Providers (FSANAIAF), Merchant Cash Advance (MCA) & Revenue-Based Financing (FSAKAGAD)

Keywords

• Renewable energy financing
• Royalty financing
• Green bonds
• Bridge loans
• Project finance

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations

Revenue model

1. Royalty Income: RE Royalties acquires revenue-based royalties from renewable energy generation facilities. The company receives a percentage of gross revenue or gross margin from operational projects over 15-25 year terms. Royalties include sliding scale gross revenue royalties and fixed annual royalty payments.
2. Interest Income from Loans: The company provides secured loans to renewable energy project developers at interest rates typically ranging from 8-10% per annum. Loan terms range from 6 months to 4 years with interest compounded monthly or annually.
3. Green Bond Financing: RE Royalties raises capital through issuance of senior secured green bonds to finance renewable energy projects. Green bonds have been issued in Series (Series 1 in 2020, Series 2 in 2021, Series 4 in 2024) with 5-year terms and interest rates of 6-9% per annum paid quarterly.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

RE Royalties provides non-dilutive royalty-based financing and bridge loans to small and medium-sized renewable energy project developers that cannot secure traditional bank financing. The company raises capital through senior secured green bond issuances and deploys it into long-term revenue-based royalties (typically 15-25 years) on operational solar, wind, hydro, battery storage, and energy efficiency projects, typically requiring CAD 10-20 million in financing.

Product overview

RE Royalties operates as a specialty finance company offering two primary financing products: (1) Green Bonds - senior secured fixed-income securities that raise capital from investors to fund renewable energy projects, with multiple series issued since 2020; and (2) Royalty Financing - the company's core differentiated offering where it provides non-dilutive capital to renewable energy developers in exchange for revenue-based royalties over 20-25 years. Bridge Loans serve as supplementary short-term financing (1-3 years). The company focuses on the niche market of financings between CAD $10-20 million, which traditional banks and private equity funds typically consider too small.

Differentiator

Problem solved

Functional benefit

Products and services

• Green Bonds Senior secured green bonds that provide fixed-income investment opportunities financing renewable energy projects. Bonds earn interest (originally 6% per annum; Series 4 at 9%) over terms typically of five years, payable quarterly, and secured against the company's portfolio of royalty and loan investments. Aligned with ICMA Green Bond Principles (2018).
• Royalty Financing Revenue-based royalty financing model where RE Royalties provides capital to renewable energy project developers and receives long-term revenue shares (typically 15-25 years) in the form of sliding scale gross revenue royalties or fixed annual royalty payments. This non-dilutive financing solution allows project developers to access capital without giving up ownership while RE Royalties generates recurring cash flows from real-economy energy production.
• Bridge Loans Short-term secured loans with terms typically of one to three years (range: 6 months to 4 years), provided to renewable energy project developers at interest rates typically of 8-10% per annum compounded monthly or annually. Bridge loans complement royalty financing to support developers' immediate capital needs.

Quantifiable outcome

• 492 MW AC total capacity across portfolio
• +4 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Seven partnerships are on record, tiered core and minor.

• Solaris Energy Inc.coreStrategic or Co-development Partner · 9 February 2026RE Royalties invested $800,000 second tranche toward purchasing royalties on two portfolios of distributed generation solar projects developed by Solaris Energy Inc. across multiple U.S. states including California, Maine, Delaware, New Hampshire, and Colorado. Total portfolio-level royalty investment expected to reach $9 million.
• Abraxas Power Maldinvest Ltd.coreStrategic or Co-development Partner · 1 November 2024In November 2024, RE Royalties entered into agreement with Abraxas Power Maldinvest Ltd. (subsidiary of Abraxas Power Corp.) to provide up to CAD $10 million in secured loan financing for solar projects with combined capacity of 0.77 MWDC in the Maldives.
• Clean CommunitiescoreStrategic or Co-development Partner · 1 January 2023RE Royalties provided CAD $1.7 million secured loan to support construction of a 4MW solar project in Cardston, Alberta. Clean Communities is an Indigenous-led cleantech company partnering with leading technology providers for clean infrastructure initiatives.
• FuseForward Solutions GroupminorStrategic or Co-development Partner · 15 December 2021RE Royalties provided $3 million financing facility to FuseForward, consisting of $2 million secured loan at 8% interest for 3 years and $1 million royalty acquisition providing fixed annual royalty payment of $284,000 for 10 years.
• Teichos EnergycoreStrategic or Co-development Partner · 21 October 2021RE Royalties acquired sliding scale gross revenue royalties on the 27 MWDC Jackson Center Solar Project Phase 1 in Pennsylvania, providing non-dilutive capital for construction. Extended support to Phase 2 in February 2023. Also provided US$1.8 million letter of credit for interconnection requirements.
• Switch Power CorporationcoreStrategic or Co-development Partner · 8 September 2021RE Royalties entered into $2.3 million loan agreement with Switch Power Ontario Battery Operations Corp. (wholly owned subsidiary of Switch Power Corporation) to finance acquisition of four operational energy storage projects (1.97 MW/4.38 MWh) in Ontario. RE Royalties receives 5% royalty on gross revenues.
• Canigou Molonglo Bess Pty Ltd.coreStrategic or Co-development Partner · 29 March 2021RE Royalties entered into letter of intent to provide CAD $10 million loan and acquire gross margin royalty on a 10MW battery storage project near Canberra, Australia. The royalty will be 20% on gross margin during loan repayment period, reducing to 15% thereafter.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Carbon Streaming Corporation: Carbon Streaming applies the same streaming/royalty financing model pioneered in mining to carbon credits and emission reduction projects, providing upfront capital in exchange for long-term revenue shares. It is the closest direct analogue to RE Royalties' application of royalty finance to renewable energy generation.
• EMX Royalty Corporation: EMX Royalty generates revenue from royalty interests on mineral properties globally, mirroring RE Royalties' approach of acquiring long-life, revenue-linked interests in real-economy assets.
• Gold Royalty Corp: Gold Royalty builds a portfolio of precious metals royalties, employing the same non-dilutive capital model against natural resource production that RE Royalties applies to renewable energy generation.
• Metalla Royalty & Streaming Ltd. Metalla acquires and holds royalty and streaming interests in mining projects, applying the same revenue-share model RE Royalties uses in renewables. The companies share an identical financial architecture applied to adjacent resource sectors.
• Vox Royalty Corp: Vox Royalty acquires a portfolio of royalties on mining properties, generating long-duration cash flow from real-asset production — directly comparable to RE Royalties' renewable energy royalty book.

Broad incumbents

• Wheaton Precious Metals Corp. Wheaton is one of the world's largest precious metals streaming companies, providing upfront capital to miners in exchange for long-term delivery of a percentage of metal production. It is the original large-scale validation of the streaming model RE Royalties has applied to renewables.
• Generate Capital: Generate Capital is a specialty financier that builds, owns, and finances sustainable infrastructure including solar, storage, and energy efficiency. It is comparable as a larger sustainable-infrastructure capital provider serving similar developer customers.
• Franco-Nevada Corporation: Franco-Nevada is the largest precious metals royalty and streaming company globally, validating the royalty-finance model at scale. It is comparable to RE Royalties as a proof-point that the architecture is institutional-grade, though it operates at vastly larger scale.
• Brookfield Renewable Partners L.P. Brookfield Renewable is one of the largest publicly traded renewable energy platforms globally, owning and operating hydro, wind, solar, and storage assets. It represents a broader incumbent investor in the same underlying asset class RE Royalties finances.
• Clearway Energy, Inc. Clearway Energy owns and operates contracted renewable and conventional generation assets in the US, providing a yieldco-style vehicle for renewable cash flows analogous to what RE Royalties' royalty book offers at a smaller scale.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/RERoyalties
• LinkedInca.linkedin.com/company/re-royalties-ltd
• Instagraminstagram.com/reroyalties
• Xx.com/RERoyalties

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds5 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Re Royalties