Revolve Renewable Power gets final approval in Mexico

Executive Summary

• Revolve Renewable Power Corp. received the final generation permit from Mexico's Comision Nacional de Energia (CNE) for its 130 MW El 24 wind project in Tamaulipas, Mexico.
• The permit is a critical regulatory milestone that materially advances the project toward Ready-to-Build (RTB) status, reducing development risk and enabling advanced commercial discussions, financing, and potential monetization.
• The company is also making progress on the interconnection application, having accepted technical study results from Cenace and expecting the final interconnection agreement in February 2026.

Key Details

• Permit Approval: Final generation permit issued by CNE on December 19, 2025.
• Project Scope: 130 MW onshore wind project located in Tamaulipas, Mexico.
• Significance: One of only five wind projects in Mexico granted a generation permit by CNE.
• Strategic Impact: Moves El 24 toward Ready-to-Build (RTB) status, enhancing bankability and positioning for construction financing, strategic partnerships, and monetization.
• Interconnection Status:
  • Revised interconnection application submitted in early November 2025.
  • Technical studies from Cenace (Centro Nacional de Control de Energia) received and accepted; network upgrades and costs aligned with expectations.
  • Final interconnection agreement expected in February 2026.
• Project Timeline:
  • RTB Target: Late 2026.
  • Commercial Operation Date (COD): 2028.
• Future Pipeline: Company intends to evaluate a new qualification window launching in 2026 for the 400 MW Presa Nueva wind project.
• Regulatory Context: Project registered under the Mexican government's accelerated interconnection and permitting process for preferred locations, aiming to deliver 5,970 MW of new wind/solar capacity between 2026-2030.

Notable Quotes

• "Securing the final generation permit for El 24 is a defining value-creation milestone... This is the same stage of development where we have historically unlocked significant shareholder value, including with our Parker and Bouse solar projects that were sold to Engie." — Myke Clark, CEO
• "Revolve has a demonstrated history of advancing large renewable projects through late-stage development and monetizing them at optimal points in the value curve... Revolve's success in securing the El 24 permit reflects both the company's project readiness and its deep familiarity with Mexico's evolving regulatory framework." — Myke Clark, CEO