Revolve Renewable Power Corp. is pleased to provide an update on its current funding strategy for a new renewable energy development platform that the Company is considering establishing.
The Company is exploring a number of different options regarding the long-term funding of its business and in particular to support its strategy of creating long term recurring revenue and cashflow for shareholders.
One such option is to work with a long-term funding partner at a project portfolio level with a view to providing the Company with sufficient access to capital to allow it to finance, construct and operate its portfolio of utility scale and distributed generation projects.
The Company confirms that it has appointed Agentis Capital Advisors (“Agentis”) to act as its financial adviser and to lead discussions with potential interested parties on such a structure. These discussions are at a very early stage and there can be no guarantee that any discussions will reach a successful conclusion or that the Company will decide to continue to pursue this option.
The Company also confirms that the financing structures under consideration in the process being led by Agentis do not currently envisage the issuance of any common shares of the Company.
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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 phase.
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 (distributed generation) assets.