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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 RockLobster1on Aug 17, 2016 12:42pm
115 Views
Post# 25150542

RE:any post conf call comments from cannacord or clarus?....

RE:any post conf call comments from cannacord or clarus?....
nothing post call... last is Aug 10 with tgt $12 no change


2015/2016 San Jacinto Drilling Program Update
SJ 9-4
: The 9-4 well has been successfully drilled. Temperatures have increased to
262°C and Polaris expects connection to the plant in late October 2016. Management
has noted that it is too early to estimate the incremental MW contribution of the well.
SJ 6-3
:Drilling was completed in December 2015. Temperatures have increased to
217°C and management expects the well to achieve the minimum targeted temperature
of 220°C. The well has been connected to the plant to allow it to contribute additional
steam to improve overall plant generation.
SJ 14-1
: Drilling was completed in April 2016 and Polaris has decided to connect the well
as an injection well for cold condensate.
Mechanical clean-out and acid stimulation of four existing wells:
Polaris completed
the mechanical work-over of all four wells (SJ 11-1, SJ 12-1, SJ 10-1 and SJ 1-1).
SJ 9-2
: Polaris is attempting to convert the existing 9-2 injection well into a production
well. Accordingly, SJ 9-2 has been taken out of service as an injection well and is being
allowed to naturally heat up and will be assessed in Q3/16 in terms of its ability to
contribute incremental steam to the San Jacinto plant.
Valuation:
Our $12.00 price target represents 6.6x our 2017E EBITDA outlook. Polaris is
currently trading at 5.7x our 2017E EBITDA versus peers at 11.9x (5.7x-15.1x).
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