POLARIS RENEWABLE ENERGY - RAMPF STOCK NEWS

Polaris Renewable Energy Inc. (TSX:PIF) has entered into a $10M USD Floating Rate Term Loan Facility with Export Development Canada to fund early-stage development expenses for renewable energy projects. The facility, which is undrawn at present, offers flexibility for Polaris to undertake project pipeline development, with a duration of up to 24 months and an option for a subsequent 24-month extension. Polaris operates in five Latin American countries, managing various renewable energy assets including geothermal, hydroelectric, and solar projects.

Polaris Renewable Energy (TSX:PIF) reported financial results for the year ended December 31, 2022. The Company generated $62.6 million in revenue, an increase from $59.5 million in 2021, primarily due to acquisitions in the Dominican Republic and Ecuador and inflation adjustments in Peru's power purchase agreements. Net earnings rose to $2.5 million, or $0.12 per share, compared to $0.5 million, or $0.03 per share, in the previous year. Adjusted EBITDA reached $44.9 million, up from $43.8 million. Additionally, Polaris maintained a quarterly dividend of $0.15 per share. The Company completed significant acquisitions and construction of new facilities, aiming for further growth in 2023.

Polaris Renewable Energy Inc. (TSX:PIF) has announced a quarterly dividend of US$0.15 per common share, payable on February 24, 2023, to shareholders on record by February 13, 2023. This dividend is categorized as an 'eligible dividend' for Canadian tax purposes. The company's board remains committed to evaluating further dividend increases in the future. Polaris operates renewable energy projects across five Latin American countries, featuring geothermal, hydroelectric, and solar energy facilities.

Polaris Renewable Energy has successfully completed the construction and testing of a 10.4 MW geothermal power plant at the San Jacinto Geothermal Project in Nicaragua. Initial operations began on December 30, 2022, with full capacity achieved by December 31. Technical commercial operation is expected to be declared by local authorities this month. The company anticipates revenue from electricity delivered during the commissioning phase at a rate of $111.20 per MWh following a renegotiated power purchase agreement. This milestone reflects significant progress in Polaris’ project development efforts.

Polaris Renewable Energy (TSX:PIF) has appointed Catherine Fagnan as a Consultant to its Board until the next Annual General Meeting, scheduled for June 2023. Catherine will leverage her extensive expertise in ESG matters to advise the Board in various initiatives. She currently serves as Associate General Counsel at Green Infrastructure Partners and has a background with Telus Communications and Lafarge Canada. Polaris operates renewable energy projects across five Latin American countries, including geothermal and hydroelectric plants, enhancing its role in the energy transition.

Polaris Renewable Energy reported its financial results for Q3 2022, generating $14.5 million in revenue, including $14.1 million from energy sales. However, it faced a net loss of $1.5 million or $0.07 per share, compared to a profit of $2.2 million or $0.11 per share in Q3 2021. Adjusted EBITDA decreased to $10.0 million. Energy production fell to 134,652 MWh primarily due to maintenance and lower hydrology. Despite challenges, the company maintains a strong cash position of $41.64 million and is advancing projects in Nicaragua and Panama.

Polaris Renewable Energy (TSX:PIF) has declared a quarterly dividend of US$0.15 per common share, scheduled for payment on November 25, 2022. Shareholders of record on November 14, 2022 will receive this eligible dividend, which has favorable tax implications for Canadian investors. The company, involved in renewable energy projects across Latin America, remains committed to ongoing dividend payments and potential increases. Current operations include geothermal, hydroelectric, and solar projects totaling approximately 72 MW of capacity.

Polaris Renewable Energy Inc. informs holders of its 7.00% unsecured convertible debentures, maturing May 31, 2024, about a redemption notice. Debentures not converted will be redeemed for cash on September 20, 2022, at C$1,000 plus accrued interest. Holders can convert their debentures into Common Shares at a rate of 66.67 shares per C$1,000, at a conversion price of C$15.00. This option must be executed by September 19, 2022. The closing price of Common Shares was C$18.95 on September 7, 2022, indicating significant value in conversion over cash redemption.

Polaris Renewable Energy Inc. has successfully completed the acquisition of Hidroelectric San Jose de Minas S.A. in Ecuador, purchasing 83.16% of shares for $16.3 million. This operational hydro project, with a capacity of 6.0 MW, is backed by a 15-year power purchase agreement with a government entity, currently priced at $78.10 per MWh. Polaris plans to acquire the remaining shares within a year and aims to expand production capacity to 10 MW. The company also formalized a framework agreement to pursue further hydro projects in Ecuador.