Apollo Bets on Royalty Financing to Unlock More Renewable-Energy Deals

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Apollo Global Management Inc. is betting that a popular form of oil and gas financing—royalty investing—can help it expand its reach in the renewable-energy sector. The New York-based asset manager said Tuesday that it has backed Altius Renewable Royalties Corp.’s subsidiary Great Bay Renewables Inc., which funds solar and wind farms in exchange for a percentage of the revenue they generate after they start operating. Apollo…

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