RE Royalties Funds Solar Projects with Abraxas Power

RE Royalties (TSE:RE) has released an update.

RE Royalties Ltd. has entered into a CAD $10 million loan and royalty agreement with Abraxas Power to fund solar projects in the Maldives, aiming to reduce reliance on diesel generators. The initial CAD $1.4 million tranche will support rooftop solar installations in a hospital and resort, generating revenue through power purchase agreements. This move aligns with Abraxas’ goals to decarbonize sectors like healthcare and tourism, crucial to the Maldives’ GDP.

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