Business
ReVolve Renewable Power (TSXV:REVV) signs definitive agreement for the acquisition of Centrica Business Solutions Mexico
ReVolve Renewable Power (TSXV:REVV) signs definitive agreement for the acquisition of Cen...
About this update from Revolve Renewable Power Corp
[{"type":"text","content":"\n \n \n \n ReVolve Renewable Power (TSXV:REVV) signs definitive agreement for the acquisition of Centrica Business Solutions Mexico\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 Transitions ReVolve from solely being a developer of renewable energy projects to an independent power producer with recurring revenue and cashflows.\n \n \n \n \n Aligns with and underpins the Company's recent strategic move into the distributed generation market and provides a strong platform for growth moving forward.\n \n \n \n \n Adds a 2.8MW portfolio of operational distributed generation assets in\n \n Mexico\n \n and a further 3MW asset that is under construction and expected to go into operation by the end of 2022.\n \n \n \n \n Upfront cash consideration of MX$33,000,000 payable on completion of the transaction.\n \n \n \n \n Cash consideration to be funded through a combination of cash on hand and a new\n \n C$1.6m\n \n 2 year secured loan facility being provided by RE Royalties (TSXV:RE).\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n May 26, 2022\n \n \n \n /CNW/ -\n \n \n \n ReVolve Renewable Power Corp.\n \n \n \n (TSXV: REVV)\n \n \n (\"\n \n ReVolve\n \n \" or the \"\n \n Company\n \n \"),\n \n \n has signed a definitive purchase agreement (the \"\n \n Purchase Agreement\n \n \") to acquire 100% of the share capital of Centrica Business Solutions Mexico S.A. de C.V. (\"\n \n CBS Mexico)\n \n , a Mexican incorporated company and subsidiary of Centrica PLC (LON:CLA) for MX$33,000,000 (the \"\n \n Acquisition\n \n \"). CBS\n \n \n \n Mexico\n \n is involved in the distributed generation market in\n \n Mexico\n \n focused on designing, installing and operating a range of different distributed generation solutions / projects located on the premises of various industrial customers.\n \n \n \n \n \n \n \n \n \n \n \n The Acquisition once completed will immediately add a base of operating projects and recurring revenue to the Company's newly established distributed generation division \"ReVolve Renewable Business Solutions\" as anno...