Revolve backs solar acquisition with $7.25M loan from EDC, Vancity
What's the deal? Revolve Renewable PowerDealroom has a profile for this one. Try Dealroom → has secured $7.25 million in project-level debt financing to fund an acquisition. The financing comes from two lenders, Export Development Canada (EDC)Dealroom has a profile for this one. Try Dealroom → and VancityDealroom has a profile for this one. Try Dealroom →, each providing a $3,625,000 term loan.
The terms: The loans run for 10 years, including an interest-only period for the first 12 months. They carry an estimated all-in interest rate of roughly 10%, based on USD Prime plus a margin, with no penalty for early repayment.
Why now? Funding is expected to close alongside the acquisition itself. Revolve plans to cover the remaining consideration using cash on hand, including proceeds from a previously announced bridge credit facility with WhitfieldDealroom has a profile for this one. Try Dealroom →.
The signal: The deal shows how renewable power developers are leaning on project-level debt to finance growth by acquisition, pairing lender capital with existing cash to close transactions.
Image credit: Generated with Gemini
