Revolve Renewable Power has completed the interconnection milestone related to the 1,000 MW Bouse Solar and Storage Project, located in La Paz County, Ariz.
The project was sold in January 2023 to ENGIE IR Holdings, with the sale also including the 250 MW Parker Solar & Storage Project. At the time, the company received a $2 million upfront payment.
The remaining consideration is linked to each project completing further interconnection studies, ENGIE issuing a Notice to Proceed construction works to the applicable engineering and procurement contractor and grid synchronization.
The next payment related to the Bouse Project totalling $3.4 million has now been paid to Revolve.
“We are delighted to reach a key milestone for the Bouse Project and the overall transaction with ENGIE,” says Steve Dalton, CEO of Revolve.
“The Bouse Project is one of the largest solar and battery storage projects being developed for the Californian market, and we look forward to further progress being made toward notice to proceed in the coming years.”
