Canada-headquartered Revolve Renewable Power Corp., a North American owner, operator and developer of power generation and digital infrastructure projects, announced it has entered into a MXN$450 million ($24 million) project-level, non-recourse-style financing facility with…
nco Multiva, S.A., Institución de Banca Múltiple, Grupo Financiero Multiva. The facility is secured by project cash flows and contracted revenues and is expected to support the continued expansion of Revolve’s distributed generation business in Mexico while enabling the company to recycle capital from existing operating and construction-stage assets into future growth opportunities.Concurrent with the signing of the facility, Revolve expects to complete an initial drawdown of about MXN$128.8 million ($7.7 million) backed by operating assets and projects currently under construction
This drawdown is anticipated to refinance a portion of Revolve’s investment in these assets and return capital to the corporate level, while maintaining ownership of the underlying projects and their long-term contracted revenue streams.Tania Ontiveros, CFO of Revolve, stated that the financing with Banco Multiva is a significant milestone and validation of the company’s growing distributed generation business in Mexico. She expressed gratitude to the Banco Multiva team for their work and vision. Ontiveros highlighted that the facility provides the $24 million in long-term project-level capital for growth, and the initial drawdown of $7.7 million demonstrates the effectiveness of Revolve’s capital recycling strategy.
This involves recovering invested capital from developed and constructed assets while retaining ownership and future cash flows.Tamara Caballero, CEO of Banco Multiva, noted that this financing marks a significant milestone for Multiva in advancing energy projects and reinforces its ability to deliver long-term financing solutions. She added that the institution is proud to contribute to the sector’s…