Mr. Steve Dalton reports
REVOLVE OBTAINS FINAL ORDER APPROVING THE PLAN OF ARRANGEMENT WITH WINDRIVER POWER CORPORATION
Further to the press releases dated Oct. 4, 2023, and Nov. 7, 2023, Revolve Renewable Power Corp. has obtained a final order with respect to the company's proposed plan of arrangement with WindRiver Power Corp. from the Court of King's Bench of Alberta, Judicial Center of Edmonton.
The final order was granted after the shareholders of WindRiver overwhelmingly approved the arrangement at a special shareholder meeting on Nov. 6, 2023.
The company is working to satisfy the remaining conditions for the completion of the arrangement and anticipates that the arrangement will close on or about Nov. 30, 2023.
About WindRiver Power Corp.
Since its establishment in 2008, WindRiver built a record in the renewable energy industry, completing the development of several wind and hydro projects across both British Columbia and Alberta totalling 200 megawatts.
It holds equity interests in 6.63 megawatts of net operational capacity split between two operating hydro projects and one operating wind farm, all located in Canada. In addition to these, WindRiver is currently developing 90 megawatts of hydro development projects located in British Columbia. These projects are at varying stages of development with target ready-to-build dates in 2025-2026, subject to future power contracting opportunities with BC Hydro.
About Revolve Renewable Power Corp.
Revolve Renewable was formed in 2012 to capitalize on the growing global demand for renewable power. Revolve Renewable develops utility-scale wind, solar and battery storage projects in the United States, Canada and Mexico with a portfolio of approximately 2,838 megawatts under development. The company has a second division, Revolve Renewable Business Solutions, which installs and operates sub-20-megawatt behind-the-meter distributed generation assets. Revolve Renewable Business Solutions currently has an operating portfolio of six megawatts with an additional three megawatts under construction phase and 156 megawatts under development.
Revolve Renewable has an accomplished management team with a demonstrated record of taking projects from greenfield through to ready-to-build status and concluding project sales to large operators of utility-scale renewable energy projects. To date, Revolve Renewable has developed and sold over 1,550 megawatts of projects.
Going forward, Revolve Renewable is targeting 5,000 megawatts of utility-scale projects under development in the U.S. and Mexico, and in parallel is rapidly expanding its portfolio of revenue-generating DG assets.
We seek Safe Harbor.
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