Business
Revolve Grows its Distributed Generation Portfolio by an Additional 3.2MWh
Revolve Grows its Distributed Generation Portfolio by an Additional 3.2MWh Cana...
About this update from Revolve Renewable Power Corp
[{"type":"text","content":"\n \n \n \n Revolve Grows its Distributed Generation Portfolio by an Additional 3.2MWh\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Sept. 15, 2022\n \n \n /CNW/ -\n \n Revolve Renewable Power Corp.\n \n (TSXV: REVV) (\"\n \n Revolve\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has signed an energy services contract for a new 3.2MWh (\"megawatt per hour\") Battery Energy Storage System (or \"BESS\")(the \"Project\"). This is the first BESS project signed under the Company's recently established distributed generation (or \"DG\") business and complements the recently completed acquisition of Centrica Business Systems (\n \n Mexico\n \n ) (see News Release dated\n \n August 29, 2022\n \n (\n \n https://money.tmx.com/en/quote/REVV/news/5305963835965510/Revolve_Acquires_100%_of_Centrica_Business_Solutions_with_Operating_Assets_and_Recurring_Revenue_Stream\n \n ). The Project increases the Company's DG capacity in operation and under construction by 50% to approximately 9MWh.\n \n \n \n \n \n \n \n \n \n \n Project Details\n \n \n \n \n The 3.2MWh battery storage system will be installed at the site of a major hotel chain in\n \n Cancun, Mexico\n \n .\n \n \n Revolve will be the owner of the Project with responsibility for the financing, installation and operation of the BESS system.\n \n \n A 10-year Energy Services Agreement (or \"ESA\") has been signed between the Company and the hotel operator for the provision of peak shaving and other energy related services.\n \n \n Under the ESA agreement Revolve will receive an annual fixed payment in addition to sharing the energy savings delivered by the Project over the 10-year contract period.\n \n \n An Engineering Procurement Contract (or \"EPC\") has been signed with Quartux Mexico S.A. de C.V. (or \"Quartux\"), a highly experienced installer and operator of battery storage systems in\n \n Mexico\n \n , to deliver a turnkey solution for the installation and commissioning of the BESS system.\n \n \n In addition to th...