Polaris Infrastructure has extended the period of exclusivity to June 30, 2021, for an agreement signed in 2020 to acquire the owner of a 10-megawatt run-of-river hydro project in Panama called Chuspa from Navitas Holdings.
Due to restrictions arising from COVID-19, Polaris was unable to commence the construction of the project in 2020.
“We are optimistic that with this extension we can mobilize in the second quarter of this year,” said the company in a statement.
While COVID-19 has pushed back the commencement of construction in Panama, Polaris said it is committed to continue with the strategic goal of continued growth and diversification.
“Given such activities and accomplishments, we are positioned well to execute on the plan to grow and diversify in the short and medium term,” noted Marc Murnaghan, CEO of Polaris. “I also want to take this opportunity to personally thank all of our employees, financial partners, local communities and govern
