The latest update is out from RE Royalties ( (TSE:RE) ).
RE Royalties Ltd. has entered into a letter of intent to provide a secured loan of up to US$8,000,000 to Revolve Renewable Power Corp. for the acquisition of a 9.6 MW operating wind project in the United States. This loan, which is expected to close in Q2, will support Revolve’s expansion in the U.S. renewable energy market, adding significant cash flow to RE Royalties’ investment portfolio and marking Revolve’s first acquisition of an operating renewable energy asset in the U.S. The project will enhance Revolve’s operational capacity and contribute to their growth strategy in North America.
More about RE Royalties
RE Royalties Ltd. is a leader in renewable energy royalty-based financing, acquiring revenue-based royalties over renewable energy facilities and technologies. The company provides non-dilutive financing solutions to companies in the renewable energy sector, owning over 100 royalties on various projects across Canada, the United States, Mexico, and Chile. Their business model focuses on providing shareholders with a strong yield, capital protection, and sustainable investment growth.
YTD Price Performance: 2.81%
Average Trading Volume: 3,380
Technical Sentiment Signal: Strong Buy
Current Market Cap: $12.03M
For a thorough assessment of RE stock, go to TipRanks’ Stock Analysis page.