Revolve Renewable Power has completed the acquisition of a 30 MW mid-stage development solar project in Alberta, Canada.
The project acquisition, first announced in September, is now complete and the company is advancing the required permitting and interconnection process. The first 20 MW phase of the project is expected to achieve “ready to build” status in 2026. Commissioning for the phase is expected later the same year.
Located south of Edmonton in an area of non-prime agricultural land, the project has been under development for the last two years. Revolve intends to build, own and operate the project.
“The closing of this acquisition expands our Canadian presence and adds an attractive near-term 30 MW project to our development pipeline,” says Myke Clark, Revolve Renewable Power CEO.
“The transaction is consistent with our M&A strategy of targeting projects under 30 MW in the United States and Canada, where we continue to see excellent opportunities to acquire, develop, build and operate quality assets with attractive returns. The Canadian renewables market is growing significantly and Revolve is committed to growing our operational portfolio and development pipeline. These projects play a key role in our strategy of delivering strong, stable returns to shareholders based on attractive renewable energy projects.”
The company adds that it has a pipeline that includes 90 MW of development assets in British Columbia and a 150 MW Saskatchewan solar project in development.
