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Polaris Infrastructure completes projects in Peru

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Energy Global,

Polaris Infrastructure Inc., a Toronto-based company engaged in the acquisition, development and operation of renewable energy projects in Latin America, has announced that its two run-of-river hydro projects in Peru, 8 de Agosto and El Carmen, have achieved their respective Commercial Operation Dates (COD) and have received official extensions of the Power Purchase Agreements (PPA).

Following Polaris infrastructure's acquisition of these and other assets on 30 October 2018, the company has set about completing construction of the projects within the terms of the applicable PPAs. El Carmen (8 MW expected capacity) and 8 de Agosto (20 MW expected capacity) are in the Huanuco region of Peru. Successful management of the company's construction and engineering partners, coupled with effective cooperation from the various Peruvian government administrative bodies allowed the company to deliver.

Both projects are now delivering electricity and are connected to the national grid through a 60 km transmission line owned by Polaris Infrastructure.

El Carmen's commercial operation was achieved on 30 November 2019 and 8 de Agosto achieved commercial operation on 25 December 2019. As the PPAs for both projects stipulate required CODs of 28 October 2019, formal extensions were required from the Peruvian Ministry of Energy and Mines (MINEM) for such PPAs to remain valid. Polaris Infrastructure has received the formal extensions from MINEM with extension dates in Q1 2020 for both 8 de Agosto and El Carmen. Accordingly, any electricity that is delivered after such commercial operations dates are recognised under the corresponding PPA pricing terms.

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