Sure! Here’s the translation into American English:
Polaris Renewable Energy Inc. has strengthened its financial position with a new credit line totaling $13.5 million. This line includes $3.5 million intended for working capital and a $10 million letter of credit, resulting from an agreement with the Canadian Imperial Bank of Commerce (CIBC) and the Export Development Corporation (EDC). This capital injection will not only increase the company’s liquidity but also enhance its expansion in Latin America and the Caribbean.
Since 2015, CIBC has been the primary bank for Polaris in Canada, and EDC has provided various financial facilities to the company throughout its history. Regarding the restructuring of its management team, Polaris announced significant changes that will take effect on October 9, 2025. Anton Jelic, the current Chief Financial Officer, will assume the role of Chief Executive Officer, focusing on areas such as technology, artificial intelligence, human resources, and risk management. Meanwhile, Alba Seisdedos Ballesteros, currently Vice President of Legal Affairs and Taxation, will become the new Chief Financial Officer, taking on additional responsibilities in financial reporting and corporate finance.
Polaris’s CEO, Marc Murnaghan, emphasized that the completion of the agreement with CIBC and EDC marks a significant advancement in the company’s relationship with Canadian financial institutions. He also highlighted that the changes in leadership reflect the company’s sustained growth and the strengthening of its team.
Additionally, Polaris has scheduled a conference and webcast to present its financial results for the third quarter of 2025 on Thursday, October 30, at 10:00 a.m. (Eastern Time). Those interested in participating can join through the provided phone lines, and a recording will be available two hours after the call.
Dedicated to the acquisition, development, and operation of renewable energy projects in Latin America and the Caribbean, Polaris Renewable Energy is distinguished by its strong financial performance and commitment to global energy transition. Its portfolio includes a geothermal plant, several hydroelectric facilities, and solar and wind projects. For more details, its official website is available.
Referrer: MiMub in Spanish
