Revolve Renewable Power Corp. (CSE:REVV; OTCQB:REVVF) has signed definitive agreements to acquire all equity interests in the 9.6 MW Horseshoe Bend Wind Project in Montana for US$10,480,000. The transaction remains subject to closing and has not yet been completed.
#Proposed Montana acquisition
The agreements are dated September 9, 2026. If the acquisition closes, Horseshoe Bend would become Revolve’s first operating power generation project in the United States.
The project sells electricity under a long-term power purchase agreement. Revolve said the existing operations and maintenance provider is expected to remain in place after closing.
Upon closing, the company expects Horseshoe Bend to add 9.6 MW of contracted, cash-generating capacity to its operating fleet in Canada and Mexico. It also expects the project to provide an established base of contracted revenue alongside its existing wind, solar, hydro and storage assets operating under long-term power purchase and services agreements across those countries.
#Debt financing from EDC and Vancity
Revolve has entered into project-level loan agreements with Export Development Canada and Vancity Capital Corporation. The agreements provide aggregate debt financing of US$7,250,000, comprising a US$3,625,000 term loan from each lender.
Funding is expected to take place when the acquisition closes. The loans have a term of 10 years and include an interest-only period for the first 12 months. Their all-in interest rate is currently estimated at approximately 10%, based on USD Prime plus an applicable margin. The agreements do not include a penalty for early repayment.
Revolve expects to cover the remaining consideration with cash on hand, including proceeds from its previously announced bridge credit facility with Whitfield Power Solutions, LLC. Further terms and conditions apply to the acquisition and financing arrangements.
#Transaction details and company context
The vendor is independent of Revolve, and the company said no finder’s fees, commissions or similar payments were made in connection with the transaction.
Revolve owns, operates and develops power generation and digital infrastructure projects in the United States, Canada and Mexico. Its operating portfolio includes 27 MW of net assets under long-term power purchase agreements across Canada and Mexico, covering wind, solar, battery storage and hydro generation.
The company also reports a development portfolio across the three countries with combined capacity of over 3,000MWs, along with a 140MW+ distributed-generation portfolio under development. Revolve said it has developed and sold over 1,550MW of projects.
#Risks and forward-looking information
Revolve cautioned that the acquisition may not close on the anticipated terms or timeline, or at all. The company also identified risks involving project operations, weather, wind resource availability, energy production, electricity prices, operating and maintenance costs, equipment failure, permitting, interconnection, counterparties, financing obligations, changes in laws and regulations, supply chain disruptions and broader market and economic conditions.
The continued operation of Horseshoe Bend by its existing operations and maintenance provider is an expected condition of the project’s future performance, rather than a completed outcome.
Revolve said its financial projections are speculative and may prove inaccurate. They depend on assumptions including completion of the acquisition, continued project performance, future wind resources, energy production, electricity pricing, operating costs, required permits and approvals, contractual counterparties, financing availability and general market conditions. The projections have not been examined, reviewed or compiled by independent accountants or other third-party experts, and actual results may differ materially and adversely.
The company also noted that EBITDA referenced in the release is a non-GAAP financial measure without a standardised meaning under IFRS Accounting Standards. It did not provide a reconciliation of forward-looking EBITDA to the closest IFRS measure because it said this could not be done without unreasonable effort.
#Key Takeaways
- Revolve has signed agreements to acquire 100% of the equity interests in the 9.6 MW Horseshoe Bend Wind Project in Montana for US$10,480,000.
- The acquisition remains subject to closing and would become Revolve’s first operating power generation project in the United States if completed.
- EDC and Vancity have agreed to provide project-level debt financing of US$7,250,000 through separate US$3,625,000 term loans.
- The loans have a term of 10 years, including an interest-only period for the first 12 months, with an all-in interest rate currently estimated at approximately 10%.
- Revolve has warned that the transaction and related projections remain subject to operational, financing, regulatory, market and other risks.
Original source: Read original article