Polaris Infrastructure Acquires Union Energy Group
October 30, 2018
Polaris Infrastructure announced today that it has closed the acquisition of 100% of the issued and outstanding shares of Union Energy Group Corp. (“UEG”). UEG is an owner and developer of run-of-river hydro projects located in Peru. As part of the UEG acquisition, Polaris Infrastructure has acquired the following assets:
- Canchayllo – a 5 MW project in operation since 2015;
- Generación Andina projects – two projects in the late stages of construction totaling 28 MW of generating capacity (El Carmen and 8 de Agosto)
- Karpa – a 20 MW project with a power purchase agreement in place, as well as;
- Portfolio of early stage development projects aggregating to approximately 189 MW.