Developer seeks equity partner for renewables platform

Breaking News 7 December

Developer seeks equity partner for renewables platform

Revolve Renewable Power, a publicly listed developer, is looking for an equity partner to help fund a new development platform, according to a teaser seen byInfralogic. 

The investor will fund a portion of the firm’s development expenses and commit to funding ready-to-build projects, according to the teaser, which went out in November 2022. 

Agentis Capital Advisors is acting as Revolve’s financial advisor on the process, which is code-named “Project Verde.” 

Agentis declined to comment, while inquiries sent to Revolve were not returned as of publication time. 

Revolve, established in 2012 and headquartered in Vancouver, develops solar, wind, battery storage and distributed generation projects in the US and Mexico. The firm has an active portfolio of 12 utility-scale projects totalling more than 3.6 GW, comprising six solar and storage projects in Arizona, New Mexico, Colorado and Utah, a storage project in Utah, a wind project in Colorado and four wind projects in Mexico. The projects are expected to reach ready-to-build between 2023 and 2025. The firm has an additional 1.2 GW of feasibility-stage projects. 

Revolve plans to launch a renewable energy platform with the potential investor, according to the teaser. Revolve will retain responsibility for early-stage development on the platform and will earn a retained equity interest in each project funded through the platform. Revolve will also serve as the platform’s operator and asset manager once the projects reach commercial operations. 

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