{"id":412547,"date":"2021-01-11T17:03:22","date_gmt":"2021-01-11T22:03:22","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=412547"},"modified":"2021-01-11T17:03:22","modified_gmt":"2021-01-11T22:03:22","slug":"polaris-infrastructure-extends-memorandum-of-understanding-for-10-mw-run-of-river-hydro-project-in-panama","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/polaris-infrastructure-extends-memorandum-of-understanding-for-10-mw-run-of-river-hydro-project-in-panama\/","title":{"rendered":"Polaris Infrastructure Extends Memorandum of Understanding for 10 MW Run-of-River Hydro Project in Panama"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n TORONTO<\/span>, Jan. 11, 2021<\/span> \/PRNewswire\/ –\u00a0Polaris Infrastructure Inc. (TSX: PIF) (“Polaris Infrastructure” or the “Company”), a Toronto<\/span>-based company engaged in the operation, acquisition and development of renewable energy projects in Latin America<\/span>, announced today that it has extended the period of exclusivity to June 30, 2021<\/span> for the Memorandum of Understanding (“MOU”) signed in 2020 to acquire the owner of a Panama<\/span>-based 10 MW run-of-river hydro project called Chuspa (the “Project”) from Navitas Holdings, Inc. of Panama.\u00a0 <\/p>\n

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\n \"Polaris
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Due to restrictions arising from Covid-19 Polaris was unable to commence the construction of the Project in 2020.\u00a0 We are optimistic that with this extension we can mobilize in the second quarter of this year.<\/p>\n

While Covid-19 has pushed back the commencement of construction in Panama<\/span>, Polaris is committed to continue with the strategic goal of continued growth and diversification.\u00a0 The recent announcement of the successful renegotiation and extension of our key contract at San Jacinto has positioned the Company to pursue its key goals:<\/p>\n