Revolve Signs Agreement to Acquire 9.6 MW Operating Wind Project in the United States
Revolve Renewable Power Corp. (REVVF) has signed a binding offer to acquire a 95% stake in a 9.6 MW operating wind energy project in the United States for US$10.5 million. The project, comprising six 1.6 MW wind turbines, generates revenue through a Power Purchase Agreement with a regional utility.
The acquisition is expected to generate approximately US$2.2 million in revenue and US$885,000 in EBITDA during the first year. RE Royalties has committed to provide a secured loan of up to US$8 million (80% of the purchase price) with a 24-month term at 12% interest, plus a 5% royalty on gross revenues.
This acquisition will expand Revolve's operational portfolio from 12.33 MW to 22 MW across North America. The project features lease agreements for 127 acres, has no existing debt or tax equity obligations, and benefits from production tax credits through 2031. The transaction is expected to close in Q2 2025.
Revolve Renewable Power Corp. (REVVF) ha firmato un'offerta vincolante per acquisire una partecipazione del 95% in un progetto di energia eolica operativo da 9,6 MW negli Stati Uniti per 10,5 milioni di dollari USA. Il progetto, composto da sei turbine eoliche da 1,6 MW, genera entrate attraverso un contratto di acquisto di energia con un'utility regionale.
L'acquisizione dovrebbe generare circa 2,2 milioni di dollari USA in entrate e 885.000 dollari USA in EBITDA durante il primo anno. RE Royalties si è impegnata a fornire un prestito garantito fino a 8 milioni di dollari USA (80% del prezzo di acquisto) con un termine di 24 mesi al 12% di interesse, più una royalty del 5% sui ricavi lordi.
Questa acquisizione espanderà il portafoglio operativo di Revolve da 12,33 MW a 22 MW in Nord America. Il progetto prevede contratti di locazione per 127 acri, non ha debiti esistenti o obbligazioni fiscali e beneficia di crediti d'imposta sulla produzione fino al 2031. Si prevede che la transazione si concluda nel secondo trimestre del 2025.
Revolve Renewable Power Corp. (REVVF) ha firmado una oferta vinculante para adquirir una participación del 95% en un proyecto de energía eólica operativo de 9.6 MW en los Estados Unidos por 10.5 millones de dólares estadounidenses. El proyecto, que consta de seis turbinas eólicas de 1.6 MW, genera ingresos a través de un contrato de compra de energía con una empresa de servicios públicos regional.
Se espera que la adquisición genere aproximadamente 2.2 millones de dólares estadounidenses en ingresos y 885,000 dólares estadounidenses en EBITDA durante el primer año. RE Royalties se ha comprometido a proporcionar un préstamo garantizado de hasta 8 millones de dólares estadounidenses (80% del precio de compra) con un plazo de 24 meses al 12% de interés, más una regalía del 5% sobre los ingresos brutos.
Esta adquisición ampliará el portafolio operativo de Revolve de 12.33 MW a 22 MW en América del Norte. El proyecto cuenta con contratos de arrendamiento para 127 acres, no tiene deudas existentes ni obligaciones fiscales, y se beneficia de créditos fiscales por producción hasta 2031. Se espera que la transacción se cierre en el segundo trimestre de 2025.
Revolve Renewable Power Corp. (REVVF)는 미국의 9.6 MW 운영 풍력 에너지 프로젝트의 95% 지분을 1050만 달러에 인수하기 위한 구속력 있는 제안을 체결했습니다. 이 프로젝트는 1.6 MW 풍력 터빈 6대로 구성되어 있으며, 지역 유틸리티와의 전력 구매 계약을 통해 수익을 창출합니다.
이번 인수는 첫 해에 약 220만 달러의 수익과 88만 5천 달러의 EBITDA를 생성할 것으로 예상됩니다. RE Royalties는 최대 800만 달러의 담보 대출 (구매 가격의 80%)을 12% 이자율로 24개월 동안 제공하기로 약속했습니다. 또한 총 수익의 5%에 대한 로열티도 발생합니다.
이번 인수로 Revolve의 운영 포트폴리오는 북미에서 12.33 MW에서 22 MW로 확대됩니다. 이 프로젝트는 127에이커에 대한 임대 계약을 포함하고 있으며, 기존 부채나 세금 자본 의무가 없으며, 2031년까지 생산 세액 공제를 받을 수 있습니다. 거래는 2025년 2분기에 완료될 것으로 예상됩니다.
Revolve Renewable Power Corp. (REVVF) a signé une offre contraignante pour acquérir une participation de 95% dans un projet éolien opérationnel de 9,6 MW aux États-Unis pour 10,5 millions de dollars américains. Le projet, qui comprend six éoliennes de 1,6 MW, génère des revenus grâce à un contrat d'achat d'électricité avec une entreprise de services publics régionale.
On s'attend à ce que l'acquisition génère environ 2,2 millions de dollars américains de revenus et 885 000 dollars américains d'EBITDA au cours de la première année. RE Royalties s'est engagé à fournir un prêt garanti allant jusqu'à 8 millions de dollars américains (80% du prix d'achat) avec une durée de 24 mois à un taux d'intérêt de 12%, plus une redevance de 5% sur les revenus bruts.
Cette acquisition élargira le portefeuille opérationnel de Revolve de 12,33 MW à 22 MW en Amérique du Nord. Le projet comprend des contrats de location pour 127 acres, n'a aucune dette existante ni obligations fiscales, et bénéficie de crédits d'impôt sur la production jusqu'en 2031. La transaction devrait être finalisée au deuxième trimestre de 2025.
Revolve Renewable Power Corp. (REVVF) hat ein verbindliches Angebot unterzeichnet, um einen 95% Anteil an einem 9,6 MW betriebenen Windenergieprojekt in den Vereinigten Staaten für 10,5 Millionen US-Dollar zu erwerben. Das Projekt besteht aus sechs 1,6 MW Windturbinen und erzielt Einnahmen durch einen Stromabnahmevertrag mit einem regionalen Versorgungsunternehmen.
Die Übernahme wird voraussichtlich im ersten Jahr etwa 2,2 Millionen US-Dollar an Einnahmen und 885.000 US-Dollar an EBITDA generieren. RE Royalties hat sich verpflichtet, ein besichertes Darlehen von bis zu 8 Millionen US-Dollar (80% des Kaufpreises) mit einer Laufzeit von 24 Monaten zu einem Zinssatz von 12% zu gewähren, plus eine 5% Lizenzgebühr auf die Bruttoeinnahmen.
Diese Übernahme wird das operative Portfolio von Revolve von 12,33 MW auf 22 MW in Nordamerika erweitern. Das Projekt umfasst Pachtverträge für 127 Acres, hat keine bestehenden Schulden oder steuerlichen Verpflichtungen und profitiert bis 2031 von Steuervergünstigungen für die Produktion. Der Abschluss der Transaktion wird im 2. Quartal 2025 erwartet.
- First US operating renewable asset acquisition adds US$2.2M annual revenue
- Project benefits from production tax credits through 2031
- No existing debt or tax equity obligations on the asset
- Secured 80% of acquisition financing through RE Royalties
- Increases operational portfolio by 78% to 22 MW
- High 12% interest rate on the secured loan
- 5% royalty payment on gross revenues reduces profit margins
- Significant leverage with 80% debt financing of purchase price
Project will add strong recurring revenue stream to current portfolio
VANCOUVER, BC / ACCESS Newswire / April 1, 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 that it has signed a binding offer (the "Binding Offer") for the proposed acquisition of a 9.6 megawatt ("MW") operating wind energy project in the United States (the "Project"). Subject to certain conditions, the Binding Offer provides for the acquisition of a
The Project consists of six 1.6 MW wind turbines generating revenue through a Power Purchase Agreement with a regional utility. The Project, once the Proposed Acquisition is complete, is expected to generate approximately US
"This Proposed Acquisition is another significant milestone for Revolve as we continue to execute on our growth plan across North America," said CEO Myke Clark. "Once completed, this acquisition will add another strong recurring revenue stream to our growing portfolio of assets. We continue to see a number of exciting opportunities to supplement our strategy by acquiring operating assets in the US and Canada. This is the third significant acquisition of operating assets in our recent history, and we are committed to accelerating that process as we scale our business through additional acquisitions and organic growth."
The Project
The Project is Revolve's first acquisition of an operating renewable energy asset in the United States and builds on the Company's current operating portfolio of 12.33 MW in Canada and Mexico.
Capacity: 9.6MW total capacity.
Site Description: Lease agreements for 127 acres of land.
Status: Operating.
Project Life: 2046.
Financial: No debt or tax equity obligations.
Federal Tax Credit: Production tax credit through 2031.
The Proposed Acquisition, once completed, will add 9.6 MW of net operational capacity to the Company's portfolio, bring the total under operation to 22 MW.
The Transaction
Under the terms of the Binding Offer, which was signed March 28, 2025, Revolve the will acquire
The Transaction is an arm's length transaction for purposes of the policies of the TSXV.
The Secured Loan
The Secured Loan is expected to be drawn down as part of completion of the Proposed Acquisition and will have a term of 24 months. It will be repayable at maturity, bear interest at
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. Revolve also installs and operates sub 20MW "behind the meter" distributed generation (or "DG") assets. Revolve's portfolio includes the following:
Operating Assets: 12 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 3,000MW 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 Company's business objectives and project development goals; statements with respect to the Proposed Acquisition, including its funding and the completion, timing and terms thereof; TSXV approval of the Proposed Acquisition; statements regarding the Project, including anticipated revenues and EBITDA during the first year of ownership and recurring revenues thereafter; and statements regarding the Secured Loan, including its terms, maturity date and interest rate. 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
What is the expected revenue from REVVF's new wind project acquisition?
How is REVVF financing the US$10.5 million wind project acquisition?
What is the total operational capacity of REVVF after the wind project acquisition?
When will REVVF complete the wind project acquisition?
What are the terms of RE Royalties' secured loan to REVVF for the wind project?
