Revolve acquires Centrica Business Solutions and operating assets
by CM Staff
Revolve anticipates that these newly acquired operational projects will generate annual revenues of US$400,000 and EBITDA of US$300,000.
VANCOUVER — Revolve Renewable Power Corp. has completed its purchase of a 100 per cent interest in Centrica Business Solutions Mexico S.A. de C.V. as announced on earlier this year.
CBS Mexico, a Mexico-incorporated subsidiary of Centrica PLC, owns and operates six distributed generation projects, with a seventh under development, in Mexico.
The acquisition of CBS Mexico provides Revolve an established an ongoing recurring revenue stream from six operating distributed generation projects and near-term visibility to revenues from one additional distributed generation project expected to be operational during H1 of 2023.
Revolve also says this acquisition means the company now has operational projects with a total capacity of 2.85 megawatts and a construction project, which has a capacity of 3MW project, has now been fully constructed.
Revolve anticipates that these newly acquired operational projects will generate annual revenues of US$400,000 and EBITDA of US$300,000
“We are extremely excited about completing the acquisition of CBS Mexico. It accelerates Revolve’s entry into the distributed generation market while transitioning our business from being solely a development company to an independent power producer generating electricity, revenues and cashflow,” said Steve Dalton, CEO of Revolve, in a statement.
