Thursday, August 8, 2019

Nicaragua: San Jacinto Geothermal Project Generating an Average 59 MW

Polaris Infrastructure Announces 2019 Second Quarter Results (News Release)

(Courtesy Polaris Infrastructure Inc.)
Polaris Infrastructure Inc., a Toronto-based company engaged in the operation, acquisition and development of renewable energy projects in Latin America, is pleased to report its financial and operating results for the quarter ended June 30, 2019.

Highlights include Continued Strong Power Generation: The San Jacinto project generated 129 GWh (net) (an average of 59.0 MW (net)), resulting in revenue of $17.3 million for the three months ended June 30, 2019, versus revenue of $17.7 million on generation of 139 GWh (net) (an average of 63.7 MW (net)) in the prior year period. The 2% revenue decrease was mainly due to the maintenance shutdown at San Jacinto in April 2019. The maintenance shutdown in 2018 was in March 2018 and accordingly the second quarter of 2019 is not directly comparable with the second quarter of 2018.

Furthermore, on a year over year basis for six months ending June 30, 2019 the San Jacinto project generated 268 GWh (net) (an average of 61.6 MW (net)), versus generation of 256 GWh (net) (an average of 58.6 MW (net)) in the prior year six month period, again normalizing for maintenance periods that did not coincide year over year.

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