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Hidroelectric San Jose de Minas S.A. “San Jose de Minas”, is Polaris Renewable Energy Inc.’s newest subsidiary recently acquired in September 2022. San Jose de Minas is an operating run-of-the-river hydro project with a capacity of 6 MWs, located along the Cubi River in San Jose de Minas, Ecuador.

San Jose de Minas has 7 years remaining on a 15-year power purchase agreement with a wholly-owned Ecuadorian government entity, for the sale of all power production. It has one expansion opportunity consisting of the introduction of a conduction channel from the adjacent Perlabi river that would increase the load factor of the existing plant from approximately 65% to approximately 85%. Such expansion does not require any amendments to the current PPA and is expected to take approximately 10 months to complete. In addition, the Project has capacity to add a turbine which would enable increased production during the rainy season. With the additional, turbine San Jose de Minas is expected to increase its power capacity to 10 MWs.

Power Plants

Installed Capacity

Capacity Factor


Transmission Line

Development Stage


CO2 Credits

Hidroelectric San Jose de Minas

6 MW


40 to 50 GWhr per year

67 KM / 60 KV


8 years – US $78.10 / Mwhr

June 2020

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