Polaris Renewable Energy Stock Price, News & Analysis

Polaris Renewable Energy (TSX:PIF) has announced a quarterly dividend payment of US$0.15 per common share. The dividend will be paid on May 23rd, 2025 to shareholders of record as of May 12th, 2025. The company has designated this as an "eligible dividend" for Canadian tax purposes. The board of directors has expressed their commitment to maintaining quarterly dividend payments and will consider potential increases in the future.

- Acquisition of Punta Lima Wind Farm (26.0 MW) in Puerto Rico with a PPA until 2044 - Settlement of four outstanding credit facilities following December 2024 Green Bonds issuance - Net loss of $10.4 million (-$0.49 per share) due to one-time finance costs - Strong cash position of $91.6 million including restricted cash - Varied performance across regions with increased production in Dominican Republic and Ecuador

Polaris Renewable Energy (TSX:PIF) has scheduled its Q1 2025 Earnings Conference Call and Webcast for Thursday, May 1st, 2025, at 10:00 am EST. Investors can join via toll-free numbers: 888-506-0062 (North America) or 973-528-00-11 (International) using entry code 918859.

A digital recording will be available two hours after the call's completion. Replay access is available until May 15, 2025, through Toronto (1-877-481-4010) and International (1-919-882-2331) numbers, both using passcode 51832.

Polaris Renewable Energy has completed the acquisition of Punta Lima Wind Farm in Puerto Rico through an Equity Capital Contribution Agreement with Santander Bank. The wind farm has a 26.0 MW nameplate capacity and operates under a 20-year power purchase agreement with Puerto Rico Electric Power Authority extending until March 2044.

The $20 million transaction was structured as a tax-equity deal, with Polaris becoming the manager and operator while maintaining a controlling equity interest, and Santander retaining a tax equity position. The acquisition required approval from local regulatory bodies and execution of the Agreement.

The strategic move expands Polaris's geographical presence and diversifies its generation mix into wind power. The company sees opportunities for implementing energy storage solutions and providing grid stabilization services, while exploring additional strategic opportunities in Puerto Rico's energy sector.

Polaris Renewable Energy reported its Q4 and annual 2024 financial results. The company's consolidated energy production increased by 2% in Q4 2024 compared to Q4 2023, while annual production decreased to 764,756 MWh from 800,951 MWh in 2023.

Revenue from energy sales declined to $75.8 million in 2024 from $78.5 million in 2023, primarily due to lower production at its Nicaragua geothermal facility. Adjusted EBITDA decreased to $55.0 million from $57.7 million. Net earnings were $3.0 million ($0.14 per share) compared to $11.7 million ($0.56 per share) in 2023.

Key developments include: closing a $175 million senior secured green bonds placement with a 9.5% coupon rate; completing phase 1 optimization of the Dominican Republic solar plant expected to boost productivity by 15%; and signing an agreement to acquire the 26.0 MW Punta Lima Wind Farm in Puerto Rico for $20 million, expected to close in Q1 2025.

Polaris Renewable Energy (TSX:PIF) has announced a quarterly dividend declaration of US$0.15 per common share. The dividend will be paid on February 28th to shareholders of record as of February 17th. The company confirms this is an 'eligible dividend' for Canadian tax purposes. The board of directors has expressed their commitment to maintaining quarterly dividend payments and will consider potential increases in the future.

Polaris Renewable Energy (TSX:PIF) has announced it will release its Q4 and annual 2024 financial results via an Earnings Conference Call and Webcast on Thursday, February 20th, 2025, at 10:00 am EST. Participants can join through toll-free numbers: 888-506-0062 (domestic) or 973-528-00-11 (international) using entry code 500570.

A digital recording will be available for replay two hours after the call's completion until March 06, 2025. Replay access is available via 1-877-481-4010 (Toronto) or 1-919-882-2331 (International) using passcode 47795.

Polaris Renewable Energy has successfully settled a USD 175 million senior secured green bond private placement. The bonds feature a five-year tenor and a 9.5% fixed coupon rate with semi-annual interest payments. The issue includes a tap feature allowing access to an additional USD 50 million for future use.

Rated BB- by S&P Global Ratings, the bonds are issued under the company's green finance framework with Morningstar Sustainalytics' second-party opinion. The proceeds will be used to refinance existing debt, acquire the Punta Lima wind farm in Puerto Rico, and invest in renewable energy assets. Pareto Securities served as lead manager and sole bookrunner, while National Bank Financial acted as Capital Markets Advisor.

Polaris Renewable Energy has successfully completed a USD 175 million senior secured green bonds private placement. The bonds feature a five-year tenor with a 9.5% fixed coupon rate, payable semi-annually, and are rated BB- by S&P Global Ratings. The bond issue, conducted under the company's green finance framework, will be used to refinance existing debt, acquire the Punta Lima wind farm in Puerto Rico, and invest in renewable energy assets. Settlement is expected around December 3, 2024. Pareto Securities served as lead manager and sole bookrunner.