Revolve Signs Agreement to Acquire 30MWp Solar Project in Canada

Vancouver, BC, September 22, 2025 – Revolve Renewable Power Corp. (TSXV:REVV) (OTCQB:REVVF) (“Revolve” or the “Company”), a North American owner, operator and developer of renewable energy projects, is pleased to announce the proposed acquisition of the development rights to a 30 megawatt (“MWp”) solar project in Alberta, Canada (the “Project”). The Company has entered into a binding Letter of Intent (“LOI”) to acquire the assets related to the Project and will enter into an asset transfer agreement (“ATA”), subject to certain customary closing conditions.

Following the recent Alberta Utilities Commission (“AUC”) permit approval for the Company’s 15.7 MW Bright Meadows solar project, the Company has moved to secure a further late-stage development project in the province. The current intention is to have the Bright Meadows project ready to build and under construction in 2026, which will be followed by this 30 MWp project in 2027 creating a consistent pipeline of ‘Develop and Build” projects in Canada.

“Revolve is actively expanding its presence in Canada given the strong renewable energy potential and this project acquisition contributes to that growth strategy,” said CEO Myke Clark. “This project has significant permitting and development work completed and will add another late-stage solar project to our growing project pipeline. The transaction is consistent with our M&A strategy of targeting projects under 30 MW in the US and Canada, where we continue to see excellent opportunities to acquire, develop, build and operate quality assets with attractive returns. We will continue to evaluate and pursue additional utility-scale opportunities across North America, leveraging our proven development expertise to build a diversified and resilient portfolio of clean energy assets.”

Project Overview

• Project Capacity – 30 MWp solar project located in southern Alberta. A land lease agreement has been signed with one landowner for the entire Project area.
• Development Status – the Project has been under development for the last two years and is considered to be at the mid-stage of development with site control completed along with various other permitting and interconnection works. The project is currently in the AUC permitting process with a decision on the permit approval expected by the end of 2025.
• Development Program – the Company is targeting having the Project ready to build in early 2027, with commissioning targeted for mid-2028.
• Financial Forecast – once fully commissioned, the Project is expected to generate annualized revenue in the range of C$5.6m to C$6.0m and EBITDA of between C$3.8m to C$4.2m. The current cost estimate to build the Project ranges between C$38m and C$40m, which will include a combination of debt, equity and the Investment Tax Credit of up to 30% available for renewable energy projects in Canada. The Company intends to update these forecasts closer to construction commencing and as the commercial arrangements for the sale of electricity from the Project are finalized. Revolve intends to build, own and operate the Project, which, once operational, will substantially enhance the revenue and cashflow profile of the Company. Construction on the Project is currently targeted for 2027, subject to interconnection studies and final permitting. This schedule aligns strategically with the targeted construction of the 15.7 MW Bright Meadows solar project in 2026.

Under the terms of the LOI, which was entered into on September 19, 2025, the Company will pay an upfront consideration of C$75,000 upon signing of the definitive ATA, which includes the reimbursement of certain development costs incurred in the development of the Project to date. The Company has also agreed to pay further consideration and reimbursement of historical development costs of up to C$1,479,750, subject to the final installed capacity of the Project and linked to the successful completion of various milestones including the commencement of construction and the commercial operation date of the Project. It is expected that these milestones will be met during the period 2026 to 2028. The transaction will be financed through existing cash resources held by the Company.  

The Project acquisition, once completed, will add to the Company’s growing portfolio of operating and development projects in Alberta. Revolve is advancing the 15.7 MW Bright Meadows Solar Project which was recently granted approval from the AUC. The Company also operates the 6 MW Box Springs Wind Project in Alberta.

About Revolve

Revolve was formed in 2012 to capitalize on the growing global demand for renewable power. Revolve develops utility-scale wind, solar, hydro and battery storage projects in the US, Canada and Mexico. Revolve also installs and operates sub 20MW “behind the meter” distributed generation (or “DG”) assets. Revolve’s portfolio includes the following:

• Operating Assets: 12 MW (net) of operating assets under long term power purchase agreements across Canada and Mexico covering wind, solar, battery storage and hydro generation;
• Development: a diverse portfolio of utility scale development projects across the US, Canada and Mexico with a combined capacity of over 3,000MWs as well as a 140MW+ distributed generation portfolio that is under development.

Revolve has an accomplished management team with a demonstrated track record of taking projects from “greenfield” through to “ready to build” status and successfully concluding project sales to large operators of utility-scale renewable energy projects. To-date, Revolve has developed and sold over 1,550MW of projects.

Forward Looking Information

The forward-looking statements contained in this news release constitute ‘‘forward-looking information’’ within the meaning of applicable securities laws in each of the provinces and territories of Canada and the respective policies, regulations and rules under such laws and ‘‘forward-looking statements’’ within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, ‘‘forward-looking statements”). The words “will”, “expects”, “estimates”, “projections”, “forecast”, “intends”, “anticipates”, “believes”, “targets” (and grammatical variations of such terms) and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward looking statements in this press release include statements with respect to the Company’s business objectives and project development goals. This forward-looking information and other forward-looking information are based on our opinions, estimates and assumptions considering our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Material factors underlying forward-looking information and management’s expectations include: the receipt of applicable regulatory approvals; the absence of material adverse regulatory decisions being received and the expectation of regulatory stability; the absence of any material equipment breakdown or failure; availability of financing on commercially reasonable terms and the stability of credit ratings of the Company and its subsidiaries; the absence of unexpected material liabilities or uninsured losses; the continued availability of commodity supplies and stability of commodity prices; the absence of interest rate increases or significant currency exchange rate fluctuations; the absence of significant operational, financial or supply chain disruptions or liability, including relating to import controls and tariffs; the continued ability to maintain systems and facilities to ensure their continued performance; the absence of a severe and prolonged downturn in general economic, credit, social or market conditions; the successful and timely development and construction of new projects; the absence of capital project or financing cost overruns; sufficient liquidity and capital resources; the continuation of long term weather patterns and trends; the absence of significant counterparty defaults; the continued competitiveness of electricity pricing when compared with alternative sources of energy; the realization of the anticipated benefits of the Company’s acquisitions and joint ventures; the absence of a change in applicable laws, political conditions, public policies and directions by governments, materially negatively affecting the Company; the ability to obtain and maintain licenses and permits; maintenance of adequate insurance coverage; the absence of material fluctuations in market energy prices; the absence of material disputes with taxation authorities or changes to applicable tax laws; continued maintenance of information technology infrastructure and the absence of a material breach of cybersecurity; the successful implementation of new information technology systems and infrastructure; favourable relations with external stakeholders; our ability to retain key personnel; our ability to maintain and expand distribution capabilities; and  our ability to continue investing in infrastructure to support our growth.

Such uncertainties and risks may include, among others, market conditions, delays in obtaining or failure to obtain required regulatory approvals in a timely fashion, or at all; the availability of financing, fluctuating prices, the possibility of project cost overruns, mechanical failure, unavailability of parts and supplies, labour disturbances, interruption in transportation or utilities, adverse weather conditions, and unanticipated costs and expenses, variations in the cost of energy or materials or supplies or environmental impacts on operations, disruptions to the Company’s supply chains; changes to regulatory environment, including interpretation of production tax credits; armed hostilities and geopolitical conflicts; risks related to the development and potential development of the Company’s projects; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; the availability of tax incentives in connection with the development of renewable energy projects and the sale of electrical energy; as well as those factors discussed in the sections relating to risk factors discussed in the Company’s continuous disclosure filings on SEDAR+ at sedarplus.ca. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned that given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates. Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required by law.

Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company does not undertake to update this information at any time except as required in accordance with applicable laws.

“Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”