On January 11, 2023, Revolve Renewable Power Corp. (TSXV: REVV) (“Revolve”) announced the sale of its 250MW Parker Solar and Storage Project (“Parker Project”) and the 1,000MW Bouse Solar and Storage Project (“Bouse Project”) (together referred to as the “Projects”) to ENGIE IR Holdings LLC a wholly owned subsidiary ENGIE S.A. (“ENGIE”), a global leader in the energy sector. The total consideration payable included an upfront payment of US$2,000,000 (inclusive of the reimbursement of development costs). The remaining consideration is linked to each of the Projects successfully completing certain milestones.
Revolve develops utility-scale wind, solar and battery storage projects in the US and Mexico with a portfolio of 3,700MW under development.
Miller Thomson advised Revolve with a team comprised of Alexander Lalka and Ian Polisuk (M&A/Securities).