on Polaris Renewable Energy Inc. (NASDAQ:RAMPF)
Polaris Renewable Energy Submits SO1 Agreement to Puerto Rico Energy Bureau
Polaris Renewable Energy Inc. has announced the submission of the Battery Energy Storage System Standard Offer Agreement ("SO1 Agreement") to the Puerto Rico Energy Bureau. On August 8, 2025, LUMA Energy ServCo, LLC, representing the Puerto Rico Electric Power Authority, completed this submission, advancing the formal approval process. Approval is anticipated within 30 to 90 days.
The agreement is a key component of Puerto Rico's Accelerated Storage Addition Program, targeting enhanced grid reliability via utility-scale battery energy storage systems. Polaris Power US, Inc., a subsidiary, is set to manage installation and operation, with Punta Lima Wind Farm LLC maintaining its role as the generation facility owner.
Upon successful approval, Polaris will receive monthly payments for its energy storage services, with commercial operations expected to commence in Q3 2026 for a 20-year duration.
R. E.
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