Brief: Polaris Infrastructure Signs Letter Of Intent To Acquire 10 MW Run-Of-River Hydro Project In Panama

Polaris Renewable Energy

16/06/2020 21:21

June 16 (Reuters) - Polaris Infrastructure Inc  PIF.TO :
    * POLARIS INFRASTRUCTURE SIGNS LETTER OF INTENT TO ACQUIRE
10 MW
RUN-OF-RIVER HYDRO PROJECT IN PANAMA
    * POLARIS INFRASTRUCTURE INC - SIGNED AN MOU TO ACQUIRE 100%
OF
EQUITY OF A 10 MW RUN-OF-RIVER HYDRO PROJECT 'CHUSPA'
    * POLARIS INFRASTRUCTURE - HAS OPTION TO ACQUIRE 100% OF
EQUITY
FOR NOMINAL UP FRONT CONSIDERATION
    * POLARIS INFRASTRUCTURE - WILL INVEST REQUIRED EQUITY
CAPITAL TO
COMPLETE HYDRO PROJECT, ESTIMATED TO BE ABOUT  $15 TO $20
MILLION
    * POLARIS INFRASTRUCTURE INC - PLANS TO FUND CONSTRUCTION
WITH
CASH ON HAND

Source text for Eikon:  ID:nCNWkptyga 
Further company coverage:  PIF.TO 

 ((Reuters.Briefs@thomsonreuters.com;))