The Albany Gazette - Revolve Expands Mexico Distributed Generation Business with New Partnership

Under the Partnership Agreement, Revolve and the EPC Partner have agreed to target two initial portfolios of commercial projects totalling more than 5 megawatts ("MW") of capacity (the "Target Projects"). The partnership is a key element of Revolve's broader mandate to increase the size of the Company's operating asset portfolio in Mexico by partnering with EPC groups that have access to pipelines of late stage, investment ready distributed generation projects that deliver innovative power solutions.

"This is a watershed partnership for Revolve as we join forces with a new partner to advance this portfolio of distributed generation projects in Mexico," said COO, Omar Bojorquez. "The aim of the partnership, and others we are pursuing, is to accelerate the development and deployment of commercial power solutions throughout Mexico. This partnership has the potential to accelerate our distributed generation pipeline and bring a meaningful number of projects to us for assessment and execution."

Following the signing of power purchase agreements of any of the Target Projects, the Company intends to own and operate the projects and will provide financial forecasts once definitive agreements are signed. The Partnership consists of a 70% ownership interest for Revolve and 30% for the EPC Partner, with economic benefits being shared on a pro-rata basis on anything over and above Revolve's required rate of return. The EPC Partner will contribute project opportunities and construction services to the partnership and Revolve will provide project finance and operating expertise, with the economics determined on a project-by-project basis.

With the growing regulatory certainty in Mexico and a lack of investment in the electricity network over the last number of years companies are increasingly focusing on reducing their energy costs and improving energy resiliency. Mexico's distributed generation market increased by 32% in 2024, reaching 4.4 gigawatts ("GW") from 3.4 GW, primarily driven by solar installations, according to BNamericas. This growth is occurring as companies seek on-site power solutions and decarbonization to alleviate strain on the national power grid. With a history of operating in Mexico since 2012, Revolve is well-positioned to capitalize on this growth.

"As part of the agreement, the EPC Partner will originate, develop and construct projects and Revolve will finance, own and operate them under long-term power purchase agreements with commercial customers. We are confident this partnership will result in additional distributed generation opportunities for Revolve fueled by increasing electricity demand growth from data centers, electrification and industrial onshoring," concluded Bojorquez.

For further information contact:
Myke Clark, CEO
[email protected]
778-946-0072

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 3,000MWs 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 partnership with EPC Partner and the Target Projects, including their acquisition, target construction dates, targeted completion dates, expected power generation and related matters. 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 of the Company's ("Management") 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.

These and other uncertainties and risks could cause actual results to differ materially from those expressed or implied by the forward-looking statements or to cause the underlying assumptions to prove incorrect. 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.

Future-oriented financial information ("FOFI") and financial outlooks contained in this release, including statements regarding estimated capital costs and projected annual revenues for the Target Projects, are provided for illustrative purposes only and are subject to the same assumptions, risk factors, and uncertainties described above with respect to forward-looking information. Such FOFI reflects Management's current estimates and assumptions considered reasonable in the circumstances, which may prove incorrect. Actual financial results may differ materially from Management's expectations, and such variations may be material and adverse. The Company's financial projections are inherently speculative, were not prepared with a view toward compliance with applicable GAAP and have not been reviewed or audited by independent accountants or other third-party experts, and should not be relied upon as indicative of future results. Such information is presented for illustrative purposes only and may not be an indication of our actual financial position or results of operations.

Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statements or FOFI 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 or FOFI whether because of new information, future events or otherwise, except as required by law.

"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

(C.Young--TAG)