Polaris Infrastructure Inc's two run-of-river hydro projects in Peru, 8 de Agosto and El Carmen, have achieved their respective Commercial Operation Dates (COD) and have received official extensions of the Power Purchase Agreements (PPA).
Following the company’s acquisition of these and other assets on October 30th, 2018, Polaris sets about completing the construction of the projects within the terms of the applicable PPAs. El Carmen (8 MW expected capacity) and 8 de Agosto (20 MW expected capacity) are in the Huanuco region of Peru.
Both projects are now delivering electricity and are connected to the national grid through a 60 km transmission line owned by Polaris Infrastructure.
El Carmen started commercial operation on November 30th, 2019 while 8 de Agosto began on December 25th, 2019. As the PPAs for both projects stipulate required CODs of October 28th, 2019, formal extensions were required from the Peruvian Ministry of Energy and Mines (MINEM) for such PPAs to remain valid. Polaris Infrastructure has now received the formal extensions from MINEM with extension dates in the first quarter of 2020 for both 8 de Agosto and El Carmen. Accordingly, any electricity that is delivered after such commercial operations dates is recognized under the corresponding PPA pricing terms.
