Revolve Provides Development Progress on its 250MW Parker Solar & Storage Project in the US

Revolve Renewable Power Corp. is pleased to provide an update on the ongoing development activity of its 250MW Parker Solar & Storage project (the “Parker Project”). Revolve is active on several utility scale solar, battery storage and wind projects in the US. This release is part of an ongoing effort to keep shareholders apprised of ongoing development activities at the Company’s portfolio of utility scale solar, battery storage and wind projects in the US and Mexico.

Parker Project Summary

 

The Parker Project is a 250MW solar and battery storage project, located on approximately 1,530 acres of land wholly managed by the Bureau of Land Management (the “BLM”) in La Paz County, 9 miles southeast of Parker, Arizona (see figure 1). The entire project site is located in a solar variance area as identified in BLM’s Solar PEIS and Record of Decision (ROD) (BLM/DOE 2012, BLM 2012a). It has the capacity to provide electricity to an equivalent of approximately 300,000 homes. The site already benefits from excellent access through the existing state road network, and it is also in close proximity to existing transmission infrastructure.

Considerable progress has been achieved on the Parker Project over the last eighteen (18) months and it is now moving towards the mid-stage of development. The Company is targeting a RTB (ready to build) timeline of 2024 for the Parker Project.

Development Highlights

Development activity on the Parker Project commenced in July 2021 and to date has consisted of securing the site control through the variance process with the BLM, interconnection and environmental field studies.

• Site control – The Company submitted a right of way (SF299) application to the BLM under the variance process for the lands required for the Project in September 2021. Following the submission of the SF299 application and payment of the applicable fee the Company’s secured its interest in the project site.
• The variance process included various preliminary meetings with relevant federal and state agencies, tribal consultation and a public consultation meeting held on February 2^nd, 2022.
• As announced in the news release dated August 4^th, 2022 (https://revolve-renewablepower.com/revolve-successfully-completes-blm-variance-process-for-the-250mw-parker-solar-and-storage-project/) following completion of this process the Company was notified of the BLM decision to approve the Parker Project for further review in accordance with National Environmental Policy Act (“NEPA“) of 1969 and all other applicable laws, regulations and policies.
• Environmental Field Studies – The Company appointed Wood Group Inc. (“Wood“), a global engineering consultancy firm with extensive experience across the energy sector in the United States, to lead the field studies required as part of the NEPA process. These studies commenced in September this year and to date the biological resources survey has been completed as is under review by the BLM with work ongoing on the cultural, paleo and surface water resource surveys. It is expected that these will be completed during Q1 2023 along with any remaining studies by the end of Q2 2023.
• Once completed, each of these studies will be provided to the BLM for review and when finalised will form part of the final NEPA submission for approval.
• Interconnection – the Parker Project is ideally located within 1 mile of the existing transmission network in the area and adjacent to an existing utility corridor, which runs through BLM land and directly along the project site.
• In late 2021 the Company applied for an interconnection with the Western Area Power Administration (“WAPA”) the transmission system operator / owner of the interconnection infrastructure located adjacent to the project site. Revolve has been working with WAPA over the course of the last 12 months and expects the Phase One study results to be released during Q1 2023.

2023 Development Activities

The Company is planning to continue the development of the Project during 2023 with a particular focus on:

• Interconnection – completion of the Phase One study by WAPA and subject to the results of this study the company will continue to the next phase of the interconnection process.
• Environmental & Permitting – completion of the remaining environmental field studies during Q1 and Q2 2023, updating of the plan of development for the project and completion of the environmental review process by the BLM under NEPA.

About Revolve

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 US and Mexico with a portfolio of c.3,600MW under development. 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 Renewable Business Solutions currently has an operating portfolio of 2.85MW with an additional 6.2MW under construction.

Revolve has an accomplished management team with a demonstrated track record of taking projects from “greenfield” through to “ready to build” (or “RTB”) status and successfully concluding project sales to large operators of utility-scale renewable energy projects. To-date, Revolve has developed and sold over 300MW of projects.

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

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