VANCOUVER, BC, May 24, 2022
/CNW/ - ReVolve Renewable Power Corp, ("ReVolve") or
the "Company") (TSXV: REVV) is pleased to announce that the
Bureau of Land Management (the "BLM") has notified the
Company that its right of way / variance land application for the
1GWac Bouse Solar and Storage project (the "Bouse Project"),
located in La Paz County, Arizona
has been approved for further processing.
The Bouse Project is a 1GWac solar and battery storage project,
located on approximately 6,155 acres of land wholly managed by the
BLM in La Paz County 27 miles east
of Quartzsite, Arizona. The entire
project site is located in a solar variance area as identified in
BLM's Solar PEIS and Record of Decision (ROD) (BLM/DOE 2012, BLM
2012a).
ReVolve Renewable Power AZ LLC, a 90% owned subsidiary of the
Company submitted a right of way (SF299) application to the BLM in
May 2021 including a Plan of
Development and Variance Factor Analysis for the Bouse Project.
Following the submission of the SF299 application, the Company has
worked with the BLM in accordance with the right of way regulations
(43 CFR 2800) published by the BLM on December 19, 2016 to advance approval of the
Bouse Project.
This process included various preliminary meetings with relevant
federal and state agencies, tribal consultation and a public
consultation meeting, held on February
2nd, 2022. Following completion of this process
the Company has been officially notified of the BLM decision to
approve the Bouse Project for further processing.
The Company will now continue through the BLM approval process,
which will consist of completion of an environmental review of the
Bouse Project in accordance with National Environmental Policy Act
("NEPA") of 1969 and all other applicable laws, regulations
and policies.
Development activities for the Bouse Project over the course of
2022 are expected to consist of the following:
- Completion of field studies including biological, aquatic and
cultural resource assessments.
- Completion of the Phase One interconnection study by the
California Independent System Operator ("CAISO") expected in
early Q4 2022.
- Review and amendment of the plan of development for the
project.
- Publication by the BLM of the notice of intent to commence the
NEPA process.
The Company can also confirm that it has appointed Ecosphere
Environmental Services ("Ecosphere"), a specialist
environmental consultancy firm with extensive experience across the
western United States. Ecosphere
have been appointed to lead the field studies required as part of
the NEPA process. Both the biological and aquatic field studies
have already commenced and will be completed in the coming weeks.
The cultural resource assessments will be completed during Q3
2022.
Steve Dalton, CEO of ReVolve
commented: "Completion of the variance approval process is a
major milestone for the development of the Bouse Project and is the
result of some excellent work by the ReVolve development team
working closely with the BLM over the last 12 months. We now look
forward to continuing this work with the BLM and our external
consultants as the project moves into the NEPA process. Once
fully permitted the Bouse Project will be one of the largest solar
& storage projects in Arizona
and is expected to play a significant role in meeting the rapidly
growing renewable energy needs across both Arizona and California."
About ReVolve Renewable
Power
ReVolve Renewable Power Corp. (www.revolve-renewablepower.com)
is in the business of developing utility scale renewable energy
generation projects in North
America with a particular focus on wind, solar and battery
storage technologies. The Company has also recently establish
ReVolve Renewable Business Solutions, a division dedicated to the
development and operation of distribution generation and sub 20MW
renewable energy projects in the US and Mexico.
The Company was established in 2012 and since then has
successfully built a diversified portfolio of projects across the
different renewable energy technologies in both the US and Mexican
markets. It currently has a portfolio of 3.3 gigawatts
("GW") of projects under active development and a further
1GW of greenfield opportunities, which it is in the process of
converting to its pipeline in the near term.
ReVolve is in the process of rapidly expanding its pipeline and
development activities in the US and is targeting an active
portfolio of up to 3GWs under development by the end of 2022 in
addition to a 2GW target for Mexico.
Forward Looking
Information
Although ReVolve believes, in light of the experience of its
officers and directors, current conditions and expected future
developments and other factors that have been considered
appropriate that the expectations reflected in this forward-looking
information are reasonable, undue reliance should not be placed on
them because ReVolve can give no assurance that they will prove to
be correct. When used in this press release, the words "estimate",
"project", "belief", "anticipate", "intend", "expect", "plan",
"predict", "may" or "should" and the negative of these words or
such variations thereon or comparable terminology are intended to
identify forward-looking statements and information. The
forward-looking statements and information in this press release
include information relating to the business plans of ReVolve and
ReVolve's management's expectation on the future development of the
Bouse Project, including the completion of the BLM approval
process, publication by the BLM of the notice of intent to commence
the NEPA process, completion of field studies including biological,
aquatic and cultural resource assessments, completion of the Phase
One interconnection study by CAISO, the review and amendment of the
plan of development for the project, the Bouse Project becoming one
of the largest solar & storage projects in Arizona, the growth and performance of the
Company's business in the United
States and Mexico,
including the planned MW capacity of its projects and its expansion
into the distributed generation market. Such statements and
information reflect the current view of ReVolve and/or ReVolve,
respectively.
The forward-looking statements contained in this news release
are based on current expectations, estimates, projections and
assumptions, having regard to the Company's experience and its
perception of historical trends, and includes, but is not limited
to, expectations, estimates, projections and assumptions relating
to the extent of regulations pertaining to the Company's projects
and ReVolve's ability to continue as going concern. Risks and
uncertainties that may cause actual results to differ materially
from those contemplated in those forward-looking statements and
information, including but not limited to: the effects of weather,
catastrophes and public health crises, including COVID-19; labour
availability; disruptions to the Company's supply chains; changes
to regulatory environment, including interpretation of production
tax credits; armed hostilities and geopolitical conflicts; failure
to obtain necessary regulatory approvals in a timely fashion, or at
all; risks related to the development and potential development of
the Company's projects; conclusions of economic evaluations;
changes in project parameters as plans continue to be refined; the
availability of tax incentives in connection with the development
of renewable energy projects and the sale of electrical energy; as
well as those factors discussed in the sections relating to risk
factors discussed in the Company's continuous disclosure filings on
SEDAR. Such statements and information reflect the current view of
ReVolve. By their nature, forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause
our actual results, performance or achievements, or other future
events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements.
The forward-looking information contained in this press
release represents the expectations of ReVolve as of the date of
this press release and, accordingly, is subject to change after
such date. Readers should not place undue importance on
forward-looking information and should not rely upon this
information as of any other date. ReVolve does not undertake to
update this information at any particular time except as required
in accordance with applicable laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy
of this release.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/revolve-renewable-power-tsxv-revv-announces-the-successful-completion-of-the-blm-variance-process-for-the-1gwac-bouse-solar-and-storage-project-301553344.html
SOURCE ReVolve Renewable Power Corp