11:43:00 EDT Thu 16 May 2024
Enter Symbol
or Name
USA
CA



Revolve Renewable Power Corp
Symbol REVV
Shares Issued 63,036,116
Close 2024-04-25 C$ 0.26
Market Cap C$ 16,389,390
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Revolve begins installation work at 450 kWp project

2024-04-25 12:02 ET - News Release

Mr. Steve Dalton reports

REVOLVE COMMENCES INSTALLATION WORKS ON 450KWP ROOFTOP SOLAR PROJECT

Installation works have commenced on Revolve Renewable Power Corp.'s 450-kilowatt-peak rooftop solar project announced on Jan. 29, 2024.

The project is being installed at the site of a food manufacturing business in central Mexico and is expected to generate in excess of 650,000 kWh of renewable electricity each year, offsetting 325,000 kilograms (325 tonnes) of carbon dioxide emissions. Electricity will be sold to the client under a 15-year power purchase agreement based on a fixed price per kWh generated by the project.

Installation works are set to continue over the next few months with commercial operation targeted before the end of June this year. Once the project is operational Revolve will own and operate a combined portfolio of 12.78 MW (net) selling renewable energy under long-term power purchase agreements to various utilities, cities and industrial customers in Canada and Mexico.

Eric Hickert, head of distributed generation for Revolve, commented: "We are delighted that installations works have now commenced on the project and look forward to the completion of these works and commissioning of the project in June. We continue to see an increasing demand for distributed generation projects across our key target markets and expect to see an increasing pace of PPA signings for similar projects in the coming months."

About Revolve Renewable Power Corp.

Revolve was formed in 2012 to capitalize on the growing global demand for renewable power. Revolve develops utility-scale wind, solar and battery storage projects in the United States, Canada and Mexico. The company has a second division, Revolve Renewable Business Solutions, which installs and operates sub-20 MW behind the meter distributed generation assets.

Revolve's portfolio includes the following:

Operating assets:  12.33 MW (net) of operating assets under long-term power purchase agreements across Canada and Mexico covering wind, solar, battery storage and hydro generation.

Under construction:  A three MW CHP project and a 450 kWp rooftop solar project that are both under construction and expected to be operational later this year.

Development:  A diverse portfolio of utility scale development projects across the United States, Canada and Mexico with a combined capacity of over 3,000 MW as well as a 146 MW distributed generation portfolio that is under development.

Revolve has an accomplished management team with a demonstrated 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 1,550 MW of projects.

Going forward, Revolve is targeting 5,000 MW of utility-scale projects under development in the United States, Canada and Mexico, and in parallel is rapidly growing its portfolio of revenue-generating DG assets.

We seek Safe Harbor.

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