Revolve Buys 9.6 MW Montana Wind Project for $10.5M, Secures $7.25M Debt
REVVF filed a M&A and Partnerships on light trading volume (0.1× avg).
Summary
Revolve signed definitive agreements to acquire the 9.6 MW Horseshoe Bend Wind Project in Montana for US$10.48 million. This is the company's first operating asset in the U.S., adding contracted cash flow to its existing 27 MW operating fleet in Canada and Mexico. The deal is funded by US$7.25 million in project-level debt from EDC and Vancity at roughly 10% interest, with the remainder from cash and a bridge facility. The project has a long-term PPA and an established operating history, so revenue should start immediately upon closing. The acquisition nearly doubles Revolve's operating capacity and marks a strategic entry into the U.S. power market. Closing is expected to occur once financing conditions are met, though no specific date was provided.
At the time of this announcement, REVVF was trading at $0.37 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $10.3M. The 52-week trading range was $0.00 to $11.18. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: ACCESS Newswire.