CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

Newly formed energy company REV Renewables plans $100m IPO

By Kevin Donovan

15:16, 20 January 2022

Wind turbine on a hill
REV Renewables owns roughly 2.4 gigawatts of generation and storage capacity - Photo: REV Renewables

REV Renewables plans to raise $100m (£73.3m) through the sale of stock in a public offering, the company reported to the US Securities and Exchange Commission (SEC).

New York City-based REV Renewables did not disclose the number of shares it plans to offer or indicate price guidance for the potential IPO. Rev Renewables has applied to list its stock on the Nasdaq exchange under the ticker RVR.

Goldman Sachs, Morgan Stanley and RBC Capital Markets are acting as joint lead book-running managers, with BofA Securities, BMO Capital Markets, Citigroup, Evercore ISI and Wolfe|Nomura Alliance as joint-lead managers. BNP Paribas, East West Markets, ING, Mizuho Securities, Ramirez and Seibert Williams Shank are acting as co-managers.

The underwriting group will have the option to purchase an undisclosed number of additional shares, although specific option terms were not disclosed.

Newly formed company

Founded in October 2021, REV Renewables is majority-owned by privately held natural gas and renewable energy operating company LS Power, which controls 89.3% of REV Renewables.

REV Renewables was formed by the combination of seven LS Power solar and wind power generation companies, as well as battery storage assets, acquired at various times. REV Renewables was formed by LS Power specifically to accelerate its investment in renewable energy.

REV Renewables energy mapREV Renewables energy map - Photo: REV Renewables S-1 shelf registration

REV Renewables owns roughly 2.4 gigawatts of generation and storage capacity through its assets located throughout the US. REV Renewables reports 290 megawatts of battery storage assets, 1,642 megawatts of pumped storage hydropower assets, 35 megawatts of solar power assets and a 132-megawatt wind farm.


2,411.42 Price
-0.180% 1D Chg, %
Long position overnight fee -0.0191%
Short position overnight fee 0.0109%
Overnight fee time 21:00 (UTC)
Spread 0.60


3,133.89 Price
+0.480% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00


57,910.65 Price
+0.520% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00


20,336.40 Price
+0.570% 1D Chg, %
Long position overnight fee -0.0263%
Short position overnight fee 0.0040%
Overnight fee time 21:00 (UTC)
Spread 7.0

REV reports its combined portfolio is the largest deregulated energy storage portfolio in the US. Additionally, REV has a portfolio of renewable energy generation and storage projects in development.

Grid Solution, an investment subsidiary of South Korean renewable energy company SK E&S, has agreed to purchase $100m in PIPE securities in conjunction with REV Renewables’ IPO. SK E&S previously invested $300m in REV Renewables last year, in exchange for 10.7% of REV.

By extrapolating the financial performance of predecessor companies Quattro and Seneca Hydro, REV Renewables reports a $53.6m net loss on $73.5m in revenue through the nine months ending 30 September 2021.

For the comparable nine-month period in 2020, REV reports $386,000 in net income on $8.61m in revenue.

For the full-year 2020, REV Renewables reports a $7.74m net loss on $12.8m in revenue, versus $1.05m in net income on $$7.45m in revenue for the full year 2019.

Read more: Aussie renewable power producer Verdant to go public in US

Related topics

Rate this article

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

Still looking for a broker you can trust?

Join the 630,000+ traders worldwide that chose to trade with

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading