Welcome to our dedicated page for Polaris Renewable Energy news (Ticker: RAMPF), a resource for investors and traders seeking the latest updates and insights on Polaris Renewable Energy stock.
Polaris Renewable Energy reports operating results, dividend actions, and project updates for a Canadian renewable power company focused on Latin America and the Caribbean. The company acquires, develops, and operates renewable energy assets, including a geothermal plant, run-of-river hydroelectric plants, solar photovoltaic projects, and a wind park.
Recurring news for RAMPF includes consolidated energy production, revenue from energy sales, quarterly and annual earnings releases, investor call notices, common-share dividend declarations, asset portfolio changes, and regulatory or commercial milestones tied to renewable energy development.
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.
Polaris Renewable Energy (TSX:PIF) has received a corporate credit and bond instrument rating of BB- with Stable Outlook from S&P Global Ratings. This international credit rating assessment represents a significant milestone in the company's financial standing evaluation.
Polaris Renewable Energy (TSX:PIF) has engaged Pareto Securities to arrange fixed income meetings with potential eligible investors. The company is considering issuing a rated five-year green bond through private placement. The proceeds would be used to refinance existing debt, acquire the Punta Lima wind farm in Puerto Rico, and make other renewable energy investments. S&P Global Ratings will provide ratings, and the bond would be issued under the company's green finance framework with Morningstar Sustainalytics' second-party opinion.
Polaris Renewable Energy (TSX:PIF) has announced a quarterly dividend of US$0.15 per common share. The dividend will be paid on November 22nd, 2024 to shareholders of record as of November 11th, 2024. 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 reported Q3 2024 financial results with consolidated energy production of 168,639 MWh, down from 178,877 MWh in Q3 2023. Revenue decreased to $17.7 million from $18.8 million, primarily due to lower production at the Nicaragua geothermal facility. Adjusted EBITDA was $12.4 million, compared to $13.7 million in Q3 2023. Net earnings were $451 ($0.02 per share), down from $1,018 ($0.05 per share) in Q3 2023. The company maintained stable operating costs and completed a solar panel optimization project in Dominican Republic. Post-quarter, Polaris announced a $20 million agreement to acquire the 26.0 MW Punta Lima Wind Farm in Puerto Rico.
Polaris Renewable Energy has announced the acquisition of Punta Lima Wind Farm in Puerto Rico through an Equity Capital Contribution Agreement. The 26.0 MW operating onshore wind farm has a 20-year power purchase agreement with PREPA extending until March 2044. The transaction, structured as a tax-equity deal, involves a $20 million equity contribution from Polaris, who will become the manager and operator with controlling interest, while Santander retains a tax equity position. The deal is expected to close in approximately 90 days, pending regulatory approvals.
Polaris Renewable Energy Inc. (TSX:PIF) has announced details for its Q3 2024 Earnings Conference Call and Webcast. The event is scheduled for Thursday, October 31st, 2024, at 10:00 am EST. Investors can participate by dialing Toll Free 888-506-0062 or International Toll-Free Number 973-528-00-11 with entry code 793587. Alternatively, they can access the webcast via the provided URL.
A digital recording of the earnings call will be available for replay two hours after the call's completion. Replay options include:
- Toronto: 1 877-481-4010, Passcode: 50364
- International (toll-free): 1 919-882-2331, Passcode: 50364
The replay will be available until November 14, 2024.
Polaris Renewable Energy Inc. (TSX:PIF) has announced the renewal of its Normal Course Issuer Bid (NCIB) approved by the Toronto Stock Exchange. Under the renewed NCIB, Polaris may purchase up to 2,045,613 common shares, representing 10% of its public float. The Board has approved the repurchase of up to 194,595 shares (0.95% of public float) during the period from August 23, 2024, to August 22, 2025. As of August 20, 2024, Polaris had 21,078,642 shares issued and outstanding. The company can purchase a maximum of 12,865 shares daily through the TSX. Under the current NCIB, Polaris has repurchased 25,400 shares at a weighted-average price of $13.05 per share. The company had USD$45.2 million in unrestricted consolidated cash as of June 30.