Revolve Receives Generation Permit Approval for 130 MW El 24 Wind Project in Mexico

VANCOUVER, BC / ACCESS Newswire / December 22, 2025 / 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 announce the receipt of a final Generation Permit for its 130 megawatt ("MW") El 24 Wind Project (the "Project"), located in the state of Tamaulipas, Mexico, from the Comisión Nacional de Energía ("CNE"), Mexico's federal regulator for the renewable energy sector. The project was one of only 5 wind projects across the entire country granted a generation permit by CNE. Additionally, the Company is pleased to report material progress on the interconnection application process for the Project. The issuance of the CNE Generation Permit represents a critical regulatory milestone and materially advances El 24 toward ready-to-build ("RTB") status, positioning the project for advanced commercial discussions, financing, and potential monetization.

"Securing the final generation permit for El 24 is a defining value-creation milestone," said CEO Myke Clark. "This is the same stage of development where we have historically unlocked significant shareholder value, including with our Parker and Bouse solar projects that were sold to ENGIE. By systematically advancing El 24 through late-stage permitting, we are executing a proven strategy that has delivered strong outcomes."

Approval of the Generation Permit provides regulatory certainty over installed capacity, generation rights, and compliance with Mexico's national electricity framework. This approval substantially reduces any remaining development risk and enables the project to progress into final permitting, engineering, procurement, and commercial structuring phases. The Generation Permit enhances bankability, supports advanced interconnection and financing discussions, and positions the project for a range of strategic outcomes. The Generation Permit for El 24, which was approved December 19, 2025, is the key authorisation issued by the federal regulator for the electricity sector in Mexico. Without this permit any generation project does not have authorisation to generate electricity and / or export to the national electricity grid. The Company submitted a generation permit request to CNE in mid-October 2025 and has been working with CNE in the evaluation process since then.

The El 24 Wind Project is a utility-scale, 130 MW onshore wind development strategically located in Tamaulipas, a region with strong wind resources and established transmission infrastructure. Revolve has completed extensive site control, wind resource assessment, environmental and social studies, and interconnection planning in advance of the CNE approval.

With the Generation Permit secured, Revolve will focus on:

• Completing final engineering and turbine optimization.

• Advancing interconnection agreements and grid integration planning.

• Evaluating commercial pathways, including construction financing, strategic partnerships, and potential monetization opportunities.

• RTB targeted for late 2026.

• Commercial operation date targeted for 2028.

The Mexican government has also announced it will launch a further qualification window in 2026 for new projects to participate in the accelerate permitting process. The Company intends to evaluate this new qualification window and the potential to register the 400 MW Presa Nueva Wind Project for evaluation. The Company believes that its on-the-ground experience, local relationships, and disciplined development execution provide a competitive advantage as regulatory clarity improves.

Regulatory Background

On October 17, 2025, the Mexican government announced a comprehensive plan for the growth and expansion of the electricity sector in the country with a specific focus on new renewable energy generation capacity and the role of private sector investment. The plan identified a requirement for capacity totalling 5,970MW from new wind and solar generation projects that would be delivered between 2026 and 2030 specifically from private generators such as Revolve. This new capacity requirement was then broken down into an initial list of preferred locations where projects in these areas would be considered for priority treatment under the federal plan.

To underpin this plan the government at the same time announced an accelerated or expedited interconnection and permitting process, which would see priority projects being evaluated over a 2-month period by both CNE and Centro Nacional de Control de Energía ("CENACE", Mexico's independent public agency that manages the National Electric System). If successful through this evaluation process private generation projects would be awarded a Generation Permit by CNE and an interconnection agreement by CENACE based on an agreed commercial operation date for the respective project.

The El 24 Wind project is in one of the preferred locations identified under the federal energy plan. On this basis the Company registered the project to participate in the accelerated interconnection and permitting process referenced above. This registration application was successful, and the Company has been working through the evaluation process for the Project with CNE and CENACE over the last 6 weeks.

Interconnection

The Company submitted a revised interconnection application for the Project in early November and has since received the results of the technical studies from CENACE to support the interconnection of the Project to the national electricity grid. These studies included confirmation of the network upgrades and associated costs to interconnect the Project, the results of which were in line with the Company's expectations. The Company has formally accepted these studies and is awaiting the next step of the evaluation process, which is expected to be the issuing of the final interconnection agreement in February 2026.

"Revolve has a demonstrated history of advancing large renewable projects through late-stage development and monetizing them at optimal points in the value curve. We believe that El 24 benefits from many of the same commercial attributes that drove value in those prior projects. Mexico has implemented expedited permitting and prioritization mechanisms designed to accelerate the integration of new renewable generation capacity into the national electricity system. Revolve's success in securing the El 24 permit reflects both the Company's project readiness and its deep familiarity with Mexico's evolving regulatory framework," concluded Clark.

November 2025 Unit Financing Note

Further to the Company's press release dated November 7, 2025, announcing the closing of its brokered private placement of units for total gross proceeds of $3,039,973, and at the request of the TSX Venture Exchange, the Company clarifies that Beacon Securities Limited, as agent, received a cash commission of $202,648.11 and was issued 1,092,369 compensation options (each a "Compensation Option"). Each Compensation Option is exercisable to acquire one common share of the Company (each a "Common Share") at an exercise price of $0.19 per Common Share until November 7, 2027.

For further information contact:

Myke Clark, CEO
IR@revolve-renewablepower.com
778-946-0072

About Revolve

Revolve was formed in 2012 to capitalize on the growing global demand for renewable power. Revolve develops utility-scale wind, solar, hydro and battery storage projects in the US, Canada and Mexico. Revolve also installs and operates sub 20MW "behind the meter" distributed generation (or "DG") assets. Revolve's portfolio includes the following:

• Operating Assets: 13 MW (net) of operating assets under long term power purchase agreements across Canada and Mexico covering wind, solar, battery storage and hydro generation;

• Development: a diverse portfolio of utility scale development projects across the US, Canada and Mexico with a combined capacity of over 3,000 MWs as well as a 140 MW+ distributed generation portfolio that is under development.

Revolve has an accomplished management team with a demonstrated track record of taking projects from "greenfield" through to "ready to build" status and successfully concluding project sales to large operators of utility-scale renewable energy projects. To-date, Revolve has developed and sold over 1,550 MW of projects.

Forward Looking Information

The forward-looking statements contained in this news release constitute ‘‘forward-looking information'' within the meaning of applicable securities laws in each of the provinces and territories of Canada and the respective policies, regulations and rules under such laws and ‘‘forward-looking statements'' within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, ‘‘forward-looking statements"). The words "will", "expects", "estimates", "projections", "forecast", "intends", "anticipates", "believes", "targets" (and grammatical variations of such terms) and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements in this press release include statements regarding the Company's project development and construction timelines, regulatory approvals, asset acquisitions and sales, strategic partnerships, expected energy production, and the advancement and monetization of its project pipeline. This forward-looking information and other forward-looking information are based on our opinions, estimates and assumptions considering our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Material factors underlying forward-looking information and management of the Company's ("Management") expectations include: the receipt of applicable regulatory approvals and financing for the Company's El 24 Wind Project and other projects; the absence of material adverse regulatory decisions being received and the expectation of regulatory stability; the absence of any material equipment breakdown or failure; availability of financing on commercially reasonable terms and the stability of credit ratings of the Company and its subsidiaries; the absence of unexpected material liabilities or uninsured losses; the continued availability of commodity supplies and stability of commodity prices; the absence of interest rate increases or significant currency exchange rate fluctuations; the absence of significant operational, financial or supply chain disruptions or liability, including relating to import controls and tariffs; the continued ability to maintain systems and facilities to ensure their continued performance; the absence of a severe and prolonged downturn in general economic, credit, social or market conditions; the successful and timely development and construction of new projects; the absence of capital project or financing cost overruns; sufficient liquidity and capital resources; the continuation of long term weather patterns and trends; the absence of significant counterparty defaults; the continued competitiveness of electricity pricing when compared with alternative sources of energy; the realization of the anticipated benefits of the Company's acquisitions and joint ventures; the absence of a change in applicable laws, political conditions, public policies and directions by governments, materially negatively affecting the Company; the ability to obtain and maintain licenses and permits; maintenance of adequate insurance coverage; the absence of material fluctuations in market energy prices; the absence of material disputes with taxation authorities or changes to applicable tax laws; continued maintenance of information technology infrastructure and the absence of a material breach of cybersecurity; the successful implementation of new information technology systems and infrastructure; favourable relations with external stakeholders; our ability to retain key personnel; our ability to maintain and expand distribution capabilities; and our ability to continue investing in infrastructure to support our growth.

These and other uncertainties and risks could cause actual results to differ materially from those expressed or implied by the forward-looking statements or to cause the underlying assumptions to prove incorrect. Such uncertainties and risks may include, among others, market conditions, delays in obtaining or failure to obtain required regulatory approvals in a timely fashion, or at all; the availability of financing, fluctuating prices, the possibility of project cost overruns, mechanical failure, unavailability of parts and supplies, labour disturbances, interruption in transportation or utilities, adverse weather conditions, and unanticipated costs and expenses, variations in the cost of energy or materials or supplies or environmental impacts on operations, disruptions to the Company's supply chains; changes to regulatory environment, including interpretation of production tax credits; armed hostilities and geopolitical conflicts; 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+ at sedarplus.ca. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned that given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates.

Future-oriented financial information ("FOFI") and financial outlooks contained in this release, including statements regarding estimated capital expenditures, anticipated milestone payments, and projected financial outcomes from project sales or partnerships and, are provided for illustrative purposes only and are subject to the same assumptions, risk factors, and uncertainties described above with respect to forward-looking information. Such FOFI reflects Management's current estimates and assumptions considered reasonable in the circumstances, which may prove incorrect. Actual financial results may differ materially from Management's expectations, and such variations may be material and adverse. The Company's financial projections are inherently speculative, were not prepared with a view toward compliance with applicable GAAP and have not been reviewed or audited by independent accountants or other third-party experts, and should not be relied upon as indicative of future results.Such information is presented for illustrative purposes only and may not be an indication of our actual financial position or results of operations.

Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statements or FOFI to reflect new information, subsequent or otherwise. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements or FOFI whether because of new information, future events or otherwise, except as required by law.

"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."

SOURCE: Revolve Renewable Power Corp.