Revolve Renewable Power Corp. Exceeds Fiscal Year 2024 Forecasts

Revolve Renewable Power Corp., a North American renewable energy project developer, reported impressive financial results for FY2024, ending June 30. The company's revenue reached $6.74 million, surpassing its forecast of $6 million and showing a 509% increase from FY2023's $1.1 million. The significant revenue boost stemmed from milestone payments related to the Bouse and Parker projects sold to ENGIE.

Adjusted EBITDA for FY2024 was reported at $2.72 million, a substantial improvement from the negative $2.12 million in FY2023. This financial progress was influenced by acquiring WindRiver, which enhanced Revolve’s operational capacity by 6.63MW and expanded development assets by 90MW in Canada.

The company generated 8,048,729 kWh of renewable energy, a notable rise from FY2023, primarily due to the Box Springs windfarm output. Revolve's strong gross profit margin of 96% was attributed to low operational costs and increased recurring revenue.