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Polaris Infrastructure Announces Carbon Credit Sale
Polaris Infrastructure Announces Carbon Credit Sale Canada NewsWire T...
About this update from Polaris Renewable Energy Inc.
[{"type":"text","content":"\n \n \n \n Polaris Infrastructure Announces Carbon Credit Sale\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n June 9, 2021\n \n /CNW/ - Polaris Infrastructure Inc. (TSX: PIF) (\"\n \n Polaris Infrastructure\n \n \" or the \"\n \n Company\n \n \"), a\n \n Toronto\n \n -based company engaged in the operation, acquisition and development of renewable energy projects in\n \n Latin America\n \n , is pleased to announce that it has entered into an agreement to sell two tranches of Certified Emission Reductions (\"\n \n CERs\n \n \") from its San Jacinto Geothermal Facility in\n \n Nicaragua\n \n (the \"\n \n San Jacinto Facility\n \n \")  for aggregate gross proceeds of approximately\n \n US$400,000\n \n .  The sales are conditional upon Polaris Infrastructure receiving UNFCCC (as defined below) verification.\n \n \n \n \n \n \n \n \n \n Polaris Infrastructure is in the process of finalizing the verification of CERs for the San Jacinto Facility under the United Nation's Convention on Climate Change (\"\n \n UNFCCC\n \n \") protocols. Such process is anticipated to be completed by the fourth quarter of 2021, at which time, the San Jacinto Facility will be able to sell any past, present or future verified CERs.\n \n \n \"Polaris Infrastructure continues to see an increased level of interest from different industry groups looking to achieve a lower carbon footprint and therefore decided to sell forward a small percentage of our expected CERs, with a view that being an active market participant, should benefit the Company in the long-run.\" noted\n \n Marc Murnaghan\n \n , Chief Executive Officer of Polaris Infrastructure.  \"It is important to note that the Company has already commenced the process of validation and verification under the UNFCCC protocols for the recently completed hydro projects in\n \n Peru\n \n , 8 de Agosto and El Carmen.   While this current sale is not financially material, the Company believes the combined inventory from all producing plants, once validated and...