on Polaris Renewable Energy Inc. (CVE:PIF)
Polaris Renewable Energy Reports Q2 2026 Results
Polaris Renewable Energy Inc. announced its financial and operating results for Q2 2026. Consolidated energy production fell 8% to 199,130 MWh, mainly due to curtailment in the Dominican Republic and normalized hydrological conditions in Peru and Ecuador, compared to exceptionally strong hydrology in the prior year.
The company's revenue for energy sales decreased to $19,935, down from $21,642 in 2025, attributed to reduced energy production, although offset by higher energy prices in Peru and Panama. Adjusted EBITDA was reported at $13.7 million, with a net loss of $0.8 million, compared to earnings of $2.2 million last year.
The company advanced its renewable energy pipeline, notably with the execution of the SO1 Agreement for a 71.4 MW battery energy storage project in Puerto Rico. It also secured the Mixed Investment Agreement for 250 MWdc of solar projects in Mexico. The company maintains its quarterly dividend of $0.15 per share.
R. H.
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