Revolve Renewable works on Mexico and Alberta projects

Executive Summary

• Revolve Renewable Power Corp. provided a comprehensive update on its operational progress and strategic milestones across its portfolio of development and operating assets, targeting progress for the remainder of 2025.
• The company highlighted significant advancements in its Mexico wind development projects (El24 and Presa Nueva), totaling over 500 MW, including interconnection applications and design optimizations, while also advancing the regulatory process for its 15.7 MW Bright Meadows solar project in Alberta.
• The company reported strong growth in its distributed generation (DG) pipeline in Mexico, reaching 195 MW with 20 MW at late-stage development, alongside stable revenue generation from its existing operating assets in Canada and Mexico.

Key Details

• Mexico Wind Developments (El24 and Presa Nueva):
  • Combined planned capacity exceeds 500 MW.
  • El24: Positive meeting with CENACE facilitated by Tamaulipas state government; updated energy yield assessment completed; turbine layout and interconnection design optimization ongoing; land agreements and site control strengthened.
  • Presa Nueva: Progress on rights of way for transmission line; resubmission of interconnection application anticipated.
  • Strategy: Both projects follow a "develop and sell" model, with development fees reinvested into new projects.
  • Future Milestones: Advancing El24 through next interconnection stage; engaging local communities; assessing optimal timing for monetization.
• Alberta Solar Project (Bright Meadows):
  • Proposed capacity: 15.7 MW.
  • Status: Pending decision from the Alberta Utilities Commission (AUC); undergoing technical, environmental, and community engagement assessments.
  • Future Milestones: AUC decision expected; Phase 1 geotechnical campaign to commence post-AUC decision; RFP for construction partner to be initiated; process to secure a Power Purchase Agreement (PPA) and project financing.
• Distributed Generation (DG) Pipeline:
  • Current pipeline size: 195 MW, with 20 MW considered late-stage development opportunities.
  • Market Context: Mexico's DG market grew 32% in 2024 to 4.4 GW.
  • Strategy: Converting opportunities into letters of intent and owned/operated projects; capitalizing on regulatory changes allowing DG projects up to 700 kW (up from 500 kW).
• Operating Assets:
  • Hunter Creek Hydro and Sakwi Creek Hydro (Canada): Annual maintenance completed during low water flow; production ramp-up anticipated in fall.
  • Box Springs Wind (Alberta): Operating as forecasted.
  • Mexico DG Portfolio: Being optimized for potential; exploring expansions due to new government regulations.
• Corporate Strategy & Outlook:
  • CEO Myke Clark cited accelerating utility-scale development in Mexico, regulatory progress in Alberta, and a growing DG pipeline.
  • Long-term target: 5,000 MW of utility-scale projects under development in the U.S., Canada, and Mexico.
  • Current portfolio includes 12 MW (net) of operating assets and over 3,000 MW of utility-scale development projects, plus a 140+ MW DG portfolio under development.
  • Historical context: Revolve has developed and sold over 1,550 MW of projects to date.

Notable Quotes

• "We are pleased with the meaningful progress achieved across our business in recent months... Combined with our core operating assets that continue to generate stable revenue streams, these achievements underscore the strength of our strategy and position us for an exciting close to 2025 and continued momentum into 2026." — Myke Clark, CEO
• "The remainder of 2025 promises to be a busy period for Revolve as we continue to advance our development-stage renewable energy projects and advance our corporate strategy. With our diversified business model, we are able to focus our short-term efforts on Canada and Mexico while looking at longer-term opportunities in the United States." — Myke Clark, CEO