REV Renewables

What REV Renewables does

REV Renewables, LLC is a U.S.-based independent power producer specializing in utility-scale clean energy generation and long-duration energy storage. Formed in August 2021 as a wholly-owned subsidiary of LS Power, REV launched with a 2.4 GW operating portfolio that has since grown to 2.9 GW across four asset classes: battery energy storage (740 MW concentrated in California, including the Gateway, Diablo, Vista, LeConte, and Tumbleweed facilities), pumped storage hydropower (1,642 MW across Bath County in Virginia, Seneca in Pennsylvania, and Yards Creek in New Jersey), utility-scale solar (~405.84 MWac across 27 facilities in 14 states), and wind (132 MW Kibby facility in Maine). The Tumbleweed project, commissioned in June 2026, is the first 8-hour duration lithium-ion battery energy storage system in California and can shift daytime solar generation to evening peak demand.

REV operates as a developer, owner, and operator across multiple U.S. regional markets (CAISO, PJM, ISO-NE, NYISO, ERCOT, FRCC, WECC) with a Canadian presence in Ontario. Revenue is generated through three streams: energy sales from solar/wind generation under offtake agreements or wholesale markets, resource adequacy capacity payments from utilities under long-term agreements, and ancillary grid services (frequency regulation) compensated through ISO markets. The company's primary customers are California investor-owned utilities (PG&E, SCE, SDG&E), the CC Power Joint Powers Agency and its Northern California CCA members (CleanPowerSF, Peninsula Clean Energy, Ava Community Energy, and others), and grid operators in PJM. GTM motion is enterprise-direct: REV pursues project-specific sales via competitive procurement processes such as California's Integrated Resource Plan and bilateral offtake negotiations with utilities and CCAs.

The company is governed by a board composed of LS Power executives (CEO Paul Segal as Chairman, COO Darpan Kapadia, EVP John King, and LS Power Equity Advisors President David Nanus) and led by an executive team drawn largely from LS Power's prior renewable and storage development ranks, supplemented by senior energy finance and CAISO regulatory experience. REV leverages LS Power's institutional capital base ($72B+ raised across the parent platform since 1990) and the parent's 47,000 MW development/acquisition track record. Headcount is 51-100, with operational offices in New York (HQ), Walnut Creek, Princeton, St. Louis, Houston, and Oakville, Ontario.

Name

REV Renewables

Legal name

REV Renewables, LLC

Website

https://revrenewables.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

101–250 employees

Short description

REV Renewables is an independent utility-scale clean energy generator and storage operator, owning 2.9 GW of solar, wind, battery, and pumped hydro assets across U.S. ISO markets. It serves California utilities, Northern California community choice aggregators, and PJM grid operators under long-term capacity and offtake agreements.

Ownership category

akta.pro rank

Product category

Utility-Scale Energy Storage and Renewable Generation

NAICS

Electric Power Generation (22111), Hydroelectric Power Generation (221111), Solar Electric Power Generation (221114), Wind Electric Power Generation (221115)

SIC

Electric Services (4911), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA)

akta.pro secondary industries

Renewable Energy Infrastructure (FSAAAKAG), Repowering, Life Extension & Upgrades (Retrofits, Controls/Software, Uprates) (EUAMAGAN)

Keywords

• Utility-scale battery storage
• Pumped storage hydropower
• Renewable energy generation
• Utility-scale solar power
• Grid ancillary services

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Infrastructure, Supply Chain, Technology or R&D, Operations

Revenue model

1. Energy Generation Sales: REV generates electricity from its solar and wind facilities and sells power under offtake agreements or into wholesale markets. The 405.84 MWac solar portfolio and 132 MW wind portfolio (Kibby) generate recurring revenue from energy sales.
2. Resource Adequacy Capacity Agreements: REV provides resource adequacy capacity to utilities like Pacific Gas & Electric under long-term agreements. Battery storage assets earn capacity payments for committing to deliver power during peak demand periods.
3. Ancillary Grid Services: REV's storage portfolio provides ancillary services including frequency regulation critical for grid resiliency and efficiency. These services are compensated through grid operator markets.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

REV Renewables develops, owns, and operates utility-scale battery energy storage systems (BESS), pumped storage hydropower facilities, solar generation, and wind generation assets. The company's 2.9 GW operating portfolio provides resource adequacy capacity, ancillary grid services (frequency regulation), and clean energy generation to investor-owned utilities, Community Choice Aggregators, and grid operators across California and other U.S. regional markets. Projects are secured via long-term offtake agreements and competitive procurement processes.

Product overview

REV Renewables is a clean energy generation and storage company offering an integrated portfolio of utility-scale renewable energy and storage solutions. The core offerings include: (1) Battery Storage Portfolio with five operational facilities totaling 740 MW, ranging from 40 MW to 250 MW capacity, including the pioneering Tumbleweed 8-hour BESS project; (2) Pumped Storage Hydro Portfolio with three facilities totaling over 1.6 GW providing long-duration storage (7-10 hours); (3) Solar Generation Portfolio with approximately 25 facilities totaling ~405.84 MWac across multiple U.S. regional markets; and (4) Wind Generation including the 132 MW Kibby facility. The company operates as a development, acquisition, and asset management platform under LS Power, managing projects from site identification through operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Battery Storage Portfolio Utility-scale battery energy storage systems providing ancillary grid services such as frequency regulation for grid resiliency and efficiency. REV operates one of California's largest battery storage portfolios totaling 740 MW across five operational facilities.
• Pumped Storage Hydro Portfolio Long-duration energy storage providing 7-10 hours of runtime compared to 1-4 hours typical for lithium-ion batteries. REV owns and operates the most extensive non-utility-owned portfolio of pumped storage hydropower in the U.S., totaling over 1.6 GW across Bath County (714 MW), Seneca (508 MW), and Yards Creek (420 MW).
• Solar Generation Portfolio Utility-scale solar power generation facilities across multiple U.S. states totaling approximately 405.84 MWac across ~27 facilities in 14 states. Facilities span CAISO, FRCC, ISO-NE, NYISO, PJM, and WECC regional markets.
• Wind Generation Portfolio

Quantifiable outcome

• Tumbleweed satisfies 55% of CC Power's Mid-Term Reliability requirement for eight-hour minimum storage procurement
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• California Community Power (CC Power)coreStrategic or Co-development PartnerCC Power is a Joint Powers Agency formed by Northern California CCAs to procure clean energy resources on behalf of member agencies. REV developed the Tumbleweed project under CC Power's procurement requirements. The project satisfies 55% of CC Power's Mid-Term Reliability requirement for eight-hour minimum storage.
• Ava Community EnergycoreStrategic or Co-development PartnerAva Community Energy is a not-for-profit public agency serving Alameda and San Joaquin counties. The organization partnered with REV on the Tumbleweed eight-hour battery project to strengthen grid reliability and accelerate California's clean energy transition.
• Northern California Community Choice AggregatorscoreStrategic or Co-development PartnerREV partnered with eight Northern California CCAs including CleanPowerSF, Peninsula Clean Energy, Redwood Coast Energy Authority, San José Clean Energy, Silicon Valley Clean Energy, Sonoma Clean Power, and Valley Clean Energy for the Tumbleweed project.
• Allegany Coal and Land CompanyminorStrategic or Co-development PartnerREV signed a lease with Allegany Coal and Land Company for the Jade Meadow I solar project site located on 85 acres of reclaimed surface coal mine land in Frostburg, Maryland.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Invenergy: Private, independent North American developer, owner, and operator of utility-scale wind, solar, and battery storage projects. Closely matches REV's business model — an LS Power-style integrated platform developing and operating renewable and storage assets for utility and corporate offtake — though Invenergy is larger and more diversified geographically.
• Clearway Energy: Publicly-traded renewable energy and storage IPP with utility-scale wind, solar, and battery storage assets across the U.S. Competes with REV for similar utility and CCA offtake contracts and shares a common lineage through Global Infrastructure Partners (formerly); Clearway's Cecabank division focuses specifically on California storage similar to REV.
• Hecate Energy: Independent developer focused on utility-scale solar and battery storage projects in the U.S., with significant activity in CAISO, PJM, and ERCOT. Closely comparable to REV on technology mix and customer base, though smaller in operating capacity.
• Terra-Gen: Independent renewable energy and battery storage developer/operator with significant California footprint, including utility-scale solar and one of the largest BESS portfolios in CAISO. Closely comparable to REV in target market, technology mix, and offtake structure.
• 174 Power Global: ENGIE's standalone U.S. battery storage and renewables platform, with major utility-scale solar and storage projects in CAISO and other Western markets. Directly comparable as a non-utility storage developer competing for the same California utility and CCA offtake.

Broad incumbents

• NextEra Energy Resources: The world's largest renewable energy generator and a subsidiary of NextEra Energy. Operates tens of GW of wind, solar, and battery storage across multiple U.S. ISOs — directly comparable to REV's utility-scale renewables and storage IPP model, but at significantly greater scale and with broader transmission involvement.
• Vistra Corp: Large independent power producer with a growing utility-scale battery storage portfolio, including flagship Texas and California projects. Comparable to REV on the storage side of the business; Vistra is much larger overall and is publicly traded.
• AES Corporation: Global IPP with a large U.S. renewables and battery storage platform (AES Clean Energy). Operates utility-scale solar, wind, and a leading BESS portfolio across multiple ISOs. Competes with REV for utility-scale storage PPAs but at significantly greater scale and geographic breadth.
• EDF Renewables North America: Subsidiary of EDF with utility-scale wind, solar, and storage development across the U.S. Competes with REV for utility and CCA contracts in CAISO and WECC markets.

Emerging players

• Arevon: U.S. renewable energy and storage developer formed from BP's wind assets and now owned by Energy Capital Partners. Develops utility-scale solar and storage with significant project pipeline; comparable to REV on technology and customer base but at earlier stage of operating fleet build-out.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/rev-renewables-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about REV Renewables