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Polaris Renewable Energy (PIF) investor relations material

Polaris Renewable Energy Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary31 Jul, 2025

Executive summary

  • Q2 2025 consolidated energy production rose 15% year-over-year to 215,797 MWh, driven by strong hydrology in Peru and Ecuador and the addition of the Punta Lima Wind Farm, offsetting lower output in Nicaragua due to unplanned maintenance.

  • Revenue and adjusted EBITDA increased year-over-year, with cost containment and efficiency gains helping offset higher consolidated costs from new assets.

  • Net earnings attributable to shareholders were $2.2 million ($0.10 per share) in Q2 2025, up from $985,000 ($0.05 per share) in Q2 2024.

  • Cash position at June 30, 2025 was $90.7 million, supporting ongoing dividend payments and growth initiatives.

  • Cost and G&A management, excluding acquisition effects, supported operational efficiency.

Financial highlights

  • Revenue for Q2 2025 was $21.6M, up from $18.7M in Q2 2024; six-month revenue totaled $41.9M, up from $39.3M.

  • Adjusted EBITDA reached $15.4M for the quarter, compared to $13.3M last year; six-month adjusted EBITDA was $30.4M vs. $29.1M.

  • Net cash from operating activities for the six months was $16.5M, broadly in line with last year.

  • Total assets stood at $549.6M as of June 30, 2025, with total liabilities of $304.9M.

  • Quarterly dividend of $0.15 per share declared for Q2 2025, to be paid August 22 to shareholders of record on August 11.

Outlook and guidance

  • Q3 is expected to be the dry season, with lower hydro output in Peru and Ecuador; no planned maintenance at San Jacinto for the rest of the year.

  • San Jacinto expected to operate in the 49–51 MW range for the remainder of the year; solar assets anticipated to run at or slightly above recent levels.

  • Focus remains on advancing the ASAP battery storage project in Puerto Rico, targeting mid-2026 COD, and progressing brownfield development in the Dominican Republic.

  • Curtailment at the Dominican Republic facility expected to persist through year-end.

  • Management remains focused on operational execution, maintaining the quarterly dividend, and pursuing selective growth leveraging strong cash reserves.

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Frequently asked questions

Polaris Renewable Energy Inc., formerly Polaris Infrastructure Inc., together with its subsidiaries, acquires, develops, and operates renewable energy projects in Latin America. The company produces geothermal power from its San Jacinto geothermal power plant that is located in Nicaragua. Polaris Renewable Energy Inc. is headquartered in Toronto, Canada.

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