ReVolve Renewable Power announces new division to focus on energy market in the U.S. and Mexico
by CM Staff
The Revolve management team has experience in sub 20MW projects, having been involved in either the financing, development, acquisition or sale of them in the past.
VANCOUVER — ReVolve Renewable Power Corp. announces the establishment of a new division that will focus on the distributed generation market and sub 20MW renewable energy projects. This new division, to be known as ReVolve Renewable Business Solutions, will target both “behind the meter” and grid-connected wind, rooftop solar, ground-mounted solar, battery storage and related energy efficiency projects in the US and Mexico.
Distributed generation refers to electricity generation at the point of consumption located at the site of a company’s operations. It is a fast-growing sub-sector within the broader renewable energy market driven by many of the same positive industry trends being experienced by the overall renewable energy market. Global corporations are considering a wide range of different options as part of their plans to reach net zero emissions for their businesses. These include not only the procurement of renewable energy from large utility-scale projects, such as those currently being developed by the Company, but it also includes onsite / distributed generation and other energy efficiency related projects.
The Company has been assessing and reviewing potential opportunities in the distributed generation sector for several years, where in general the development process is shorter and involves less regulatory requirements from a permitting perspective than the Company’s primary business of developing utility-scale wind and solar projects.
The Revolve management team has experience in sub 20MW projects, having been involved in either the financing, development, acquisition or sale of over 60 individual projects in previous roles outside of ReVolve.
The Company hopes to target distributed generation projects with customers across a range of different industries in the US and Mexico. These projects are expected to include rooftop solar, battery storage and energy efficiency projects of up to 5MW located at the customers premises. The Company will develop, construct and finance these projects and will enter into long term (up to 10 years) power purchase agreements for the sale of electricity from the projects with the underlying customers.
