Revolve Provides Development Update on Its Vernal BESS Project

VANCOUVER, BC / ACCESSWIRE / April 22, 2024 / Revolve Renewable Power Corp. (TSXV:REVV)(OTCQB:REVVF) ("Revolve" or the "Company"), a North American owner, operator and developer of renewable energy projects, is pleased to provide an update on the ongoing development work for its 80MWh/20MW Vernal Battery Storage project (the "Project").

Vernal BESS Project Summary

The Vernal BESS Project is an 80MWh / 20MW battery storage project, located on a 47-acre land parcel wholly owned and administered by the State Land Trust (the "State Trust") in Uintah County, 4 miles north of Vernal, Utah. The project site benefits from excellent access through the existing local road network and is in close proximity to existing transmission infrastructure.

The Company has identified the Project as a key project within its utility scale development portfolio that it intends on financing, constructing and operating for the generation of long term revenue and cashflow.

Development Highlights

As indicated in the previous project updates issued on March 23, 2023 (https://revolve-renewablepower.com/revolve-provides-development-update ...) and on September 11, 2023 (https://revolve-renewablepower.com/revolve-provides-development-update ...), the Company has been actively developing the Project since 2022 with a particular focus on completing the interconnection process.

• Interconnection: The Project is ideally located less than a half mile from the existing transmission network in the area. The Company applied for an interconnection with PacifiCorp in May 2022 as part of their 2022 Cluster 2 study and has since received both the Phase 1 and Phase 2 interconnection studies. The results of these studies were in line with the Company's expectations both in terms of the overall cost of the interconnection and the potential commissioning timeline.

On this basis the Company decided to finalize the interconnection application process and has recently signed an interconnection agreement with PacifiCorp, completing what is a major milestone for the development of the Project.

• Permitting: The remaining permitting works on the Project are continuing and will over the coming months consist of preparing and applying for a conditional use permit and building permit with the local county, completing the plan of development and construction permit with the Utah State Land Trust and finalising the detailed design and engineering for the interconnection transmission line.

The Company continues to target a ready to build date in late 2024 / early 2025 with construction works to commence in 2025 and commercial operations during 2026. These dates remain subject to securing suitable offtake arrangements for the Project.