On August 29, 2022, Revolve Renewable Power Corp. (TSXV: REVV) (“Revolve”) announced the completion of its purchase of a 100% interest in Centrica Business Solutions Mexico S.A. de C.V. (“CBS Mexico”). CBS Mexico, a Mexico-incorporated subsidiary of Centrica PLC (LSE: CLA), owns and operates six distributed generation projects, with a seventh under development, in Mexico.
The purchase price was financed by a CDN$1,600,000 secured loan, with the remainder of the purchase price being funded by cash on hand. The financing consists of a secured loan and a royalty agreement between Revolve and RE Royalties Ltd.
Revolve develops utility-scale wind, solar and battery storage projects in the US and Mexico with a portfolio of 3,700MW under development.
Miller Thomson advised Revolve with a team led by Alexander Lalka (M&A/Securities), and comprised of Boris Muchalov (Financial Services) as well as Ian Polisuk (M&A/Securities).
