RE Royalties to Provide Secured Loan for Wind Project Acquisition

RE Royalties Ltd. has entered into a letter of intent with Revolve Renewable Power Corp. for a secured loan of up to US$8 million. This funding will assist Revolve in acquiring a 95% interest in a 9.6 MW wind energy project in the United States. The project consists of six 1.6 MW turbines under a revenue-generating Power Purchase Agreement.

The loan, expected to close in Q2 2025, will have a 24-month term with a 12% interest rate on drawn funds. Additionally, RE Royalties will receive a 5% royalty on the project's gross revenues. This acquisition marks Revolve's first operating renewable asset in the U.S., increasing their operational portfolio to 22 MW.

Peter Leighton, COO of RE Royalties, emphasized the significance of this investment. Myke Clark, CEO of Revolve, highlighted the acquisition as a vital step in their North American growth strategy.