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Second-quarter generation fell 7.7% year over year, while revenue declined 5% and adjusted EBITDA dropped 11%, primarily due to Dominican Republic curtailment, lower Nicaragua geothermal output and more normal hydro conditions in Peru and Ecuador.
Dominican Republic curtailment improved to 29% in the quarter from 42% in Q1, while Nicaragua's binary plant operated about 0.75 MW below capacity; Polaris expects a potential recovery through an acidification program in early 2027.
Polaris is advancing growth projects, including the Puerto Rico ASAP battery project targeted for mid-2027 operation and 250 MW of solar capacity in Mexico with battery storage. Management estimates the Mexican projects could generate roughly $25 million to $30 million in combined EBITDA.
Polaris Renewable Energy (TSE:PIF) reported lower second-quarter generation and financial results compared with an exceptionally strong period a year earlier, as curtailment in the Dominican Republic, normalizing hydrological conditions and expected geothermal declines weighed on output.
#republic #year
Second-quarter generation fell 7.7% year over year, while revenue declined 5% and adjusted EBITDA dropped 11%, primarily due to Dominican Republic curtailment, lower Nicaragua geothermal output and more normal hydro conditions in Peru and Ecuador.
Dominican Republic curtailment improved to 29% in the quarter from 42% in Q1, while Nicaragua's binary plant operated about 0.75 MW below capacity; Polaris expects a potential recovery through an acidification program in early 2027.
Polaris is advancing growth projects, including the Puerto Rico ASAP battery project targeted for mid-2027 operation and 250 MW of solar capacity in Mexico with battery storage. Management estimates the Mexican projects could generate roughly $25 million to $30 million in combined EBITDA.
Polaris Renewable Energy (TSE:PIF) reported lower second-quarter generation and financial results compared with an exceptionally strong period a year earlier, as curtailment in the Dominican Republic, normalizing hydrological conditions and expected geothermal declines weighed on output.
#republic #year
2 days ago
