Polaris Infrastructure, a Toronto-based company engaged in the operation, acquisition and development of renewable energy projects in Latin America, has acquired a Panama-based 10 MW run-of-the-river hydro project, Chuspa, from Navitas Holdings. The hydro project has secured all the licences and permits that are required for construction and operation. The minor construction works such as road access and foundation preparation for the turbine house have already been completed. Also, significant down payments have already been made on two turbines. The contract for 40-50 per cent of the expected production has been signed at $85 per MWh. The anticipated timeline for the completion of the hydro project is 12-15 months after the mobilisation commences.