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ReVolve Renewable Power Corp ( (TSE:REVV) ) has provided an update.
Revolve Renewable Power Corp. announced the sale of a 3MW combined heat and power project for US$1.5 million, acquired originally as part of its purchase of Centrica Business Solutions Mexico. The proceeds from this sale will be reinvested into higher return projects, enhancing the company’s financial position and allowing further advancement of their corporate initiatives. This move underscores the company’s strategic asset management and commitment to optimizing capital allocation. The solar and battery storage assets from the CBS Mexico acquisition remain pivotal to Revolve’s operations, providing strong cash flows and contributing to a growing revenue stream.
More about ReVolve Renewable Power Corp
Revolve Renewable Power Corp. is a North American company involved in the renewable energy sector. It operates, owns, and develops renewable energy projects, focusing on distributed generation and providing energy solutions through long-term power purchase agreements with industrial customers.
YTD Price Performance: -14.00%
Average Trading Volume: 24,010
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$12.53M
Learn more about REVV stock on TipRanks’ Stock Analysis page.