Revolve Accelerates Development Work On Mexico Wind Portfolio

Revolve Renewable Power Corp. (“Revolve” or the “Company”), a North American owner, operator and developer of renewable energy projects, is pleased to announce project development work on the Company’s two utility scale wind projects in Mexico is being accelerated as a result of increased regulatory certainty. Development work on its two most advanced projects, which have a combined projected capacity of 531 megawatts (“MW”), is intensifying following new electricity generation regulations that have been implemented in Mexico.

“The Government of Mexico has implemented significant updates to legislation for the energy sector that provides greater certainty for renewable energy developers and distributed generation providers,” said Revolve COO Omar Bojorquez. “Our successful history developing utility-scale wind energy and smaller-scale distributed generation commercial projects in Mexico has positioned us well as we seek to advance two large scale utility wind projects and expand our distributed generation business.”

Revolve has two late-stage utility wind projects in Mexico:

For both projects:

• Wind assessment campaigns and detailed energy yield assessments have been completed. The Company is in the process of optimizing the project designs based on new turbine models.
• The interconnection application process is already underway for both projects and has been updated to reflect new turbine technology and project designs.
• Land lease option agreements have been executed for both projects and the rights of way required for the transmission lines required for interconnection are well advanced. The projects are located in a high wind resource area of Northeastern Mexico and in close proximity to the high voltage transmission network.
• Environmental permitting for both projects commenced a number of years ago and is expected to be taken up again post the regulatory updates and increasing market certainty from recent government announcements.
• The majority of minor permits and authorisations required for both projects are already in place and will be updated as needed to reflect any further optimization of the design for each project.

The El 24 and Presa Nueva Wind Projects are key assets in the Company’s “develop and sell” pipeline of renewable energy projects – one of three key pillars in Revolve’s business model. Revolve develops large utility scale projects from greenfield to ready-to-build status, at which point it sells the development rights to large utilities and independent power producers. The sale of the Parker and Bouse projects in the US (Latest update June 10, 2024 – Revolve Receives US$3.4M Bouse Solar and Storage Project Milestone Payment) are a recent example of this segment of the Company’s revenue stream.

The second pillar of the Company’s model is the “develop and hold” segment – Revolve develops, builds, owns and operates smaller utility scale projects (under 50 MW) as well as distributed generation (“DG”) projects. The third pillar, M&A Expansion, supports both of these strategies. Revolve accelerates its growth through strategic acquisitions of operating assets and/or later stage development assets.

Mexico Regulatory Update
On March 18, 2025, a Decree was published, enacting a package of new secondary laws in the energy sector, among which the Electricity Sector Law (“LSE“) was issued. This new law repeals the Electricity Industry Law of 2014 (“LIE“) and establishes a new framework to govern all activities that comprise Mexico’s electricity sector.

Distributed Generation
The new regulations increase the permit threshold for self-generation projects, or DG, from 500 kilowatts (“kW”) to 700 kW. For Revolve and the Company’s customers, this will allow for larger projects without the need for a self-generation permit. Additionally, a simplified procedure will be introduced for self-consumption interconnection permits for projects with capacities ranging between 700 kW and 20 MW. Both of these changes will benefit the Company’s as it seeks to expand its DG business in Mexico.

Utility Scale
For utility scale renewable energy projects, the new laws provide a path forward for private market participants after six years during which private investment in new power plants was virtually halted. The new regulations institute a framework for project development and implements certain timelines associated with interconnection.

The new regulations also recognize energy storage as a key element of the electricity sector. As a result, the Company is assessing storage requirements for El 24 and Presa Nueva and updating project designs to incorporate energy storage.

For more information visit the Government of Mexico.