Revolve Partners with Vancity for Refinancing of Acquisition Loan
Revolve Renewable Power (TSXV:REVV)(OTCQB:REVVF) has secured a new loan facility with Vancity Capital to refinance a CA$3,968,800 acquisition loan originally provided by RE Royalties. The new 9-year loan features a 9.25% fixed interest rate, replacing the previous 12% rate loan, and will be repaid through quarterly payments from Canadian operating assets' cash flow.
The refinancing relates to the Wind River Power acquisition, which included three operating projects totaling 23MW: Box Springs Wind (6MW, 51% ownership), Hunter Creek Hydro (11MW, 21% ownership), and Sakwi Hydro (6MW, 21% ownership). All projects have long-term power purchase agreements in place.
RE Royalties maintains a variable royalty of 0.5% to 1% on gross revenues from certain operational projects for the duration of their power purchase agreements.
Revolve Renewable Power (TSXV:REVV)(OTCQB:REVVF) ha assicurato un nuovo finanziamento con Vancity Capital per rifinanziare un prestito per acquisizione di CA$3.968.800 originariamente fornito da RE Royalties. Il nuovo prestito di 9 anni presenta un tasso d'interesse fisso del 9,25%, sostituendo il precedente prestito con un tasso del 12%, e verrà rimborsato attraverso pagamenti trimestrali dal flusso di cassa delle attività operative canadesi.
Il rifinanziamento è relativo all'acquisizione di Wind River Power, che include tre progetti operativi per un totale di 23MW: Box Springs Wind (6MW, 51% di proprietà), Hunter Creek Hydro (11MW, 21% di proprietà) e Sakwi Hydro (6MW, 21% di proprietà). Tutti i progetti hanno accordi di acquisto di energia a lungo termine in essere.
RE Royalties mantiene una royalty variabile dallo 0,5% all'1% sui ricavi lordi di alcuni progetti operativi per tutta la durata dei loro accordi di acquisto di energia.
Revolve Renewable Power (TSXV:REVV)(OTCQB:REVVF) ha asegurado una nueva línea de crédito con Vancity Capital para refinanciar un préstamo de adquisición de CA$3.968.800 originalmente otorgado por RE Royalties. El nuevo préstamo de 9 años presenta una tasa de interés fija del 9,25%, reemplazando la anterior tasa del 12%, y se reembolsará a través de pagos trimestrales del flujo de caja de activos operativos canadienses.
El refinanciamiento se refiere a la adquisición de Wind River Power, que incluyó tres proyectos operativos que suman un total de 23MW: Box Springs Wind (6MW, 51% de propiedad), Hunter Creek Hydro (11MW, 21% de propiedad) y Sakwi Hydro (6MW, 21% de propiedad). Todos los proyectos tienen contratos de compra de energía a largo plazo vigentes.
RE Royalties mantiene una regalía variable del 0,5% al 1% sobre los ingresos brutos de ciertos proyectos operativos durante la duración de sus contratos de compra de energía.
Revolve Renewable Power (TSXV:REVV)(OTCQB:REVVF)는 Vancity Capital과 함께 CA$3,968,800의 인수 대출을 재정리하기 위한 새로운 대출을 확보했습니다. 새로운 9년 대출은 9.25%의 고정 이자율을 특징으로 하며, 이전의 12% 대출을 대체하며 캐나다 운영 자산의 현금 흐름에서 분기별 지급을 통해 상환될 예정입니다.
이 재정리는 Wind River Power 인수와 관련이 있으며, 총 23MW의 세 가지 운영 프로젝트를 포함합니다: Box Springs Wind (6MW, 51% 소유권), Hunter Creek Hydro (11MW, 21% 소유권), Sakwi Hydro (6MW, 21% 소유권). 모든 프로젝트는 장기 전력 구매 계약이 체결되어 있습니다.
RE Royalties는 전력 구매 계약 기간 동안 특정 운영 프로젝트의 총 수익에 대해 0.5%에서 1%의 변동 로열티를 유지합니다.
Revolve Renewable Power (TSXV:REVV)(OTCQB:REVVF) a sécurisé une nouvelle ligne de crédit avec Vancity Capital pour refinancer un prêt d'acquisition de 3 968 800 CA$ initialement accordé par RE Royalties. Le nouveau prêt de 9 ans présente un taux d'intérêt fixe de 9,25 %, remplaçant le précédent prêt à 12 %, et sera remboursé par des paiements trimestriels provenant du flux de trésorerie des actifs opérationnels canadiens.
Le refinancement est lié à l'acquisition de Wind River Power, qui comprenait trois projets opérationnels totalisant 23 MW : Box Springs Wind (6 MW, 51 % de propriété), Hunter Creek Hydro (11 MW, 21 % de propriété) et Sakwi Hydro (6 MW, 21 % de propriété). Tous les projets ont des contrats d'achat d'électricité à long terme en place.
RE Royalties maintient une redevance variable de 0,5 % à 1 % sur les revenus bruts de certains projets opérationnels pendant toute la durée de leurs contrats d'achat d'électricité.
Revolve Renewable Power (TSXV:REVV)(OTCQB:REVVF) hat eine neue Kreditlinie mit Vancity Capital gesichert, um ein Erwerbsdarlehen in Höhe von CA$3.968.800, das ursprünglich von RE Royalties bereitgestellt wurde, umzuschulden. Das neue 9-jährige Darlehen hat einen festen Zinssatz von 9,25%, der das vorherige Darlehen mit 12% Zinssatz ersetzt, und wird über vierteljährliche Zahlungen aus dem Cashflow der kanadischen Betriebsvermögen zurückgezahlt.
Die Umschuldung betrifft die Wind River Power Übernahme, die drei operative Projekte mit insgesamt 23MW umfasst: Box Springs Wind (6MW, 51% Eigentum), Hunter Creek Hydro (11MW, 21% Eigentum) und Sakwi Hydro (6MW, 21% Eigentum). Alle Projekte haben langfristige Stromabnahmeverträge.
RE Royalties behält eine variable Lizenzgebühr von 0,5% bis 1% auf den Bruttoeinnahmen bestimmter Betriebsprojekte für die Dauer ihrer Stromabnahmeverträge bei.
- Reduced interest rate from 12% to 9.25%, lowering cost of capital
- Early loan repayment without penalties
- Stable cash flow from three operating renewable energy projects (23MW total)
- Long-term power purchase agreements securing revenue streams
- Extended loan term from 3 to 9 years improving cash flow management
- Ongoing royalty obligation of 0.5-1% on gross revenues to RE Royalties
- ownership stakes in two hydro projects (21% each)
VANCOUVER, BC / ACCESS Newswire / January 30, 2025 / Revolve Renewable Power Corp. (TSXV:REVV)(OTCQB:REVVF) ("Revolve" or the "Company"), a North American owner, operator and developer of renewable energy projects, is pleased to announce it has entered into a long term loan facility with Vancity Capital Corporation ("Vancity") to refinance a CA
"The refinancing of this acquisition loan is another important milestone for Revolve Renewable Power," said CFO Tania Ontiveros. "First and foremost, we are proud to be working with Vancity - an organization committed to social justice, environmental sustainability, and community well-being. The Vancity loan is a critical step in our growth as it provides a lower cost of capital to Revolve and increases our cash flow from our operating assets. This efficient use of debt creates a streamlined process for future acquisitions and increases our ability to accelerate our growth."
The Wind River Power Corporation acquisition, which was completed in February 2024, included three operating projects with a total net capacity of 23 megawatts ("MW") and several development stage assets. The operating assets, listed below, are fully integrated into Revolve's asset management operations and are generating stable, recurring cashflows for the Company:
Project | Capacity | Location | Offtake Agreement | Ownership |
Box Springs Wind | 6MW | Medicine Hat, AB | 20-year fixed price power purchase agreement with the City of Medicine Hat | Revolve is a |
Hunter Creek Hydro | 11MW | Hope, BC | B.C. Hydro under a long-term power purchase agreement | Revolve is an indirect |
Sakwi Hydro | 6MW | Harrison Hot Springs, BC | B.C. Hydro under a long-term power purchase agreement | Revolve is an indirect |
The Vancity loan transaction, which closed on January 29, 2025, has a term of 9 years, a fixed interest rate of
"This refinancing with Vancity validates our strategy of using flexible acquisition financing options from groups like RE Royalites to acquire operating assets and then replacing that debt with lower cost capital while increasing the long-term equity return for the Company. We would like to thank RE Royalties for providing the financial support for this acquisition and we hope to work with them on future opportunities. This model allows for fast growth through the acquisition of operational assets, and we are actively assessing additional opportunities in the mid-size renewable project sector," said CEO Myke Clark.
Under the terms of the original loan agreement, RE Royalties maintains a variable royalty of between
For further information contact:
Myke Clark, CEO
IR@revolve-renewablepower.com
778-372-8499
About Revolve
Revolve was formed in 2012 to capitalize on the growing global demand for renewable power. Revolve develops utility-scale wind, solar, hydro and battery storage projects in the US, Canada and Mexico. The Company has a second division, Revolve Renewable Business Solutions which installs and operates sub 20MW "behind the meter" distributed generation (or "DG") assets. Revolve's portfolio includes the following:
Operating Assets: 12.78 MW (net) of operating assets under long term power purchase agreements across Canada and Mexico covering wind, solar, battery storage and hydro generation;
Development: a diverse portfolio of utility scale development projects across the US, Canada and Mexico with a combined capacity of over 3,000MWs as well as a 140MW+ distributed generation portfolio that is under development.
Revolve has an accomplished management team with a demonstrated track record of taking projects from "greenfield" through to "ready to build" status and successfully concluding project sales to large operators of utility-scale renewable energy projects. To-date, Revolve has developed and sold over 1,550MW of projects.
Going forward, Revolve is targeting 5,000MW of utility-scale projects under development in the US, Canada and Mexico, and in parallel is rapidly growing its portfolio of revenue-generating DG assets.
Forward Looking Information
The forward-looking statements contained in this news release constitute ‘‘forward-looking information'' within the meaning of applicable securities laws in each of the provinces and territories of Canada and the respective policies, regulations and rules under such laws and ‘‘forward-looking statements'' within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, ‘‘forward-looking statements"). The words "will", "expects", "estimates", "projections", "forecast", "intends", "anticipates", "believes", "targets" (and grammatical variations of such terms) and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward looking statements in this press release include statements with respect to the proposed acquisition of the Project. This forward-looking information and other forward-looking information are based on our opinions, estimates and assumptions considering our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Material factors underlying forward-looking information and management's expectations include: the receipt of applicable regulatory approvals; the absence of material adverse regulatory decisions being received and the expectation of regulatory stability; the absence of any material equipment breakdown or failure; availability of financing on commercially reasonable terms and the stability of credit ratings of the Company and its subsidiaries; the absence of unexpected material liabilities or uninsured losses; the continued availability of commodity supplies and stability of commodity prices; the absence of interest rate increases or significant currency exchange rate fluctuations; the absence of significant operational, financial or supply chain disruptions or liability, including relating to import controls and tariffs; the continued ability to maintain systems and facilities to ensure their continued performance; the absence of a severe and prolonged downturn in general economic, credit, social or market conditions; the successful and timely development and construction of new projects; the absence of capital project or financing cost overruns; sufficient liquidity and capital resources; the continuation of long term weather patterns and trends; the absence of significant counterparty defaults; the continued competitiveness of electricity pricing when compared with alternative sources of energy; the realization of the anticipated benefits of the Company's acquisitions and joint ventures; the absence of a change in applicable laws, political conditions, public policies and directions by governments, materially negatively affecting the Company; the ability to obtain and maintain licenses and permits; maintenance of adequate insurance coverage; the absence of material fluctuations in market energy prices; the absence of material disputes with taxation authorities or changes to applicable tax laws; continued maintenance of information technology infrastructure and the absence of a material breach of cybersecurity; the successful implementation of new information technology systems and infrastructure; favourable relations with external stakeholders; our ability to retain key personnel; our ability to maintain and expand distribution capabilities; and our ability to continue investing in infrastructure to support our growth.
Such uncertainties and risks may include, among others, market conditions, delays in obtaining or failure to obtain required regulatory approvals in a timely fashion, or at all; the availability of financing, fluctuating prices, the possibility of project cost overruns, mechanical failure, unavailability of parts and supplies, labour disturbances, interruption in transportation or utilities, adverse weather conditions, and unanticipated costs and expenses, variations in the cost of energy or materials or supplies or environmental impacts on operations, disruptions to the Company's supply chains; changes to regulatory environment, including interpretation of production tax credits; armed hostilities and geopolitical conflicts; risks related to the development and potential development of the Company's projects; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; the availability of tax incentives in connection with the development of renewable energy projects and the sale of electrical energy; as well as those factors discussed in the sections relating to risk factors discussed in the Company's continuous disclosure filings on SEDAR+ at sedarplus.ca. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned that given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates. Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required by law.
Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company does not undertake to update this information at any time except as required in accordance with applicable laws.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
SOURCE: Revolve Renewable Power Corp.
View the original press release on ACCESS Newswire
FAQ
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