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Polaris Renewable Energy Inc T.PIF

Alternate Symbol(s):  RAMPF

Polaris Renewable Energy Inc. is engaged in the acquisition, development and operation of renewable energy projects in Latin America. It operates 82 megawatts (MW) geothermal facility in Nicaragua, three run-of-river hydroelectric facilities in Peru, with a combined capacity of approximately 33 MW, a 25 MW solar plant facility in Dominican Republic, a six MW run-of-river hydroelectric facility in Ecuador and a 10 MW solar plant in Panama. Through its subsidiary, Emerald Solar Energy SRL, it operates the Canoa I Solar Park located in the Barahona Province, Dominican Republic. Its San Jacinto-Tizate Geothermal plant is located in northwestern Nicaragua, in the sire of San Jacinto, municipality of Telica, 20 kilometers from the city of Leon. Its Vista Hermosa Solar Parks are located in the village of Vista Hermosa, Corregimiento de Pueblos Unidos, Aguadulce district, Cocle Province. Through its subsidiary Generacion Andina SAC, it owns 8 de Agosto, a Run of River hydroelectric operation.


TSX:PIF - Post by User

Comment by OneEyeon Apr 16, 2014 4:24pm
194 Views
Post# 22460267

RE:RE:RE:RE:RE:RE:RE:Appears to be running at 61.1 MW

RE:RE:RE:RE:RE:RE:RE:Appears to be running at 61.1 MWCos, as you do your analysis, have you read the transcript and reviewed managements forecast for 2014? To whit: "with remediation activities complete we expect annual revenues this year to be $49 to $52 million assuming average production of approximately 52 megawatts to 55 megawatts NET, and company EBITDA of $34 million to $37 million. 61 to 63 megawatts net DOES NOT look promising according to management. In the MD&A, further information; "Should the plant capacity test result in a net operating output below 55 MW (net), the Phase II credit facility will be in default. If the plant capacity test results in a net operating output equal to or greater than 65 MW (net), excess funds from operations will be eligible for distribution........For net operating output results below 65 MW (net), quarterly major maintenance contributions will increase by $0.2 million per MW...... Interestingly, the MD&A also states that "if the remediation is successful" the net revenue will be approximately $56 to $61 million which is in direct contrast to the CFO's comments on the conference call above. Do they already know the results of the remediation and have not revealed it except by reducing the expected revenue? Sell the SJT asset (if you can) and fold the company....that is what is coming. All other prospects have little or no value, and our company is neither willing nor able to develop any further projects. OE
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