Revolve Reports a 15% Recurring Revenue Increase and Significant Progress Across North American Project Portfolio in Q2, F2026
Executive Summary
- Revolve Renewable Power Corp. reported Q2 FY2026 results, showing a 15% increase in recurring revenue to $717,457 and a reduced net loss of $858,947 versus the prior year.
- The company closed a transformative US$40 million convertible loan financing with Callaway on February 19 2026, providing an immediate US$10 million drawdown to fund project development and balance‑sheet strengthening.
- Significant operational milestones were achieved, including receipt of a Generation Permit for the 130 MW EL 24 wind farm in Mexico and Alberta Utilities Commission approval for the 15.7 MW Bright Meadows solar project.
Key Details
- Financial Highlights (USD):
- Total revenue: $717,457 (+15% YoY).
- Energy production: 5,179,733 kWh (+17%).
- Gross profit: $524,226 (73% margin, down from 79%).
- Net loss: $858,947 (improved from $908,959 YoY).
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Cash & security deposits as of Dec 31 2025: $1,487,169.
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Strategic Financing – Convertible Loan:
- Total commitment: US$40 million.
- Initial funding on closing: US$10 million.
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Structure: convertible loan with step‑up conversion prices in the second tranche to align dilution with long‑term value creation.
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Mexico – EL 24 Wind Farm (130 MW):
- Received final Generation Permit from CNE, one of only five wind projects nationwide granted this permit.
- Submitted interconnection request to CFE on Feb 17 2026; final agreement expected in coming weeks.
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Project now positioned for ready‑to‑build status, financing and potential monetization.
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Mexico – Distributed Generation Partnership:
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Signed EPC partnership (Oct 8 2025) to develop >5 MW of commercial distributed generation projects; definitive agreements anticipated in the current quarter.
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Canada – Bright Meadows Solar Project (15.7 MW):
- Received Power Plant Approval (Decision 29985‑D01‑2025) from Alberta Utilities Commission on Sep 15 2025.
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Moving forward with final interconnection and construction planning.
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U.S. Projects:
- Continuing progress on 20 MW/80 MWh Vernal BESS and 49.5 MW Primus Wind projects; seeking commercial offtake solutions.
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Anticipates receipt of remaining milestone payments from the sale of the 1.25 GW Bouse & Power Solar & Storage project to ENGIE ($40‑$50k per MW).
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Corporate Governance:
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Granted 926,702 Deferred Share Units (DSUs) to directors on Feb 24 2026 (418,077 at C$0.23/share; 508,625 at $0.19/share). DSUs vest one year after grant and replace cash director fees.
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Forward‑Looking Statements:
- Company expects the financing proceeds to accelerate development pipeline, support acquisition opportunities, and enhance shareholder value.
Notable Quotes
“Revolve recorded a 15% increase in recurring revenue… while making key investments in the continued development of our project pipeline,” – Myke Clark, CEO
This release contains material information regarding Revolve Renewable Power Corp.’s financial performance, financing activities, and significant project milestones.