Polaris Renewable Energy Inc. (T:PIF*CA)
Business Focus: Renewable IPPs
| Sector: Utilities | Industry: Independent Power Producers |
| Company Contact | |
| Address: | 7 St. Thomas St. Suite 606 TORONTO ON M5S 2B7 |
| Tel: | N/A |
| Website: | https://polarisinfrastructure.com |
| IR: | See website |
| Key People | ||
| Marc J. Murnaghan Chief Executive Officer, Director | Anthony Jelic Chief Financial Officer | Alexis Osorno Senior Vice President, Latin America |
| Business Overview |
| Polaris Renewable Energy Inc. is a Canada-based company. The Company is engaged in the acquisition, development and operation of renewable energy projects in the Americas. The Company operates 72 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 the Dominican Republic, and a six MW run-on-river hydroelectric facility in Ecuador. It also owns two solar projects in Panama, with a total capacity of 10 MW AC. The Company, through its subsidiary, Emerald Solar Energy SRL, operates the Canoa I Solar Park (the Canoa I) 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 (km) from the city of Leon. The Company, through its subsidiary, Generacion Andina SAC, owns 8 de Agosto, a Run of River hydroelectric operation. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Polaris Renewable Energy Inc revenues increased 25% to $78.5M. Net income increased from $2.5M to $11.7M. Revenues reflect Expl,oration, Development and Operation of Geothermal Projec segment increase of 14% to $55.5M, Acquisition, expl, dev and operation of hydro Projects(Peru) segment increase of 53% to $14.1M, Solar Project segment increase of 98% to $7.3M, Nicaragua segment increase of 14% to $55.5M. |
| Employees: | 235 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $428.72M as of Dec 31, 2023 |
| Annual revenue (TTM): | $107.33M as of Dec 31, 2023 |
| EBITDA (TTM): | $78.10M as of Dec 31, 2023 |
| Net annual income (TTM): | $16.05M as of Dec 31, 2023 |
| Free cash flow (TTM): | $27.28M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $184.63M as of Dec 31, 2023 |
| Shares outstanding: | 21,075,474 as of Mar 12, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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