This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Boralex Announces Acquisition Of 50 MW Wind Power Project In Québec

MONTREAL, March 27, 2012 /PRNewswire/ - Boralex Inc. ("Boralex" or the "Corporation") announces the acquisition of an electricity supply agreement (the "Agreement") for a wind power project with an installed capacity of 50 megawatts. Boralex intends to develop this project in the Témiscouata Regional County Municipality (RCM) in Québec.

Patrick Lemaire, President and CEO of Boralex, says that "the announcement of this new project shows Boralex's strong positioning in the Canadian wind power segment, and our growth in this sector. Capital needed to develop this project will come in part from the proceeds of the recent sale of our US thermal power assets; allowing us to pursue our strategy of developing assets that come with power purchase agreements, particularly in the wind and hydropower segments."

Hydro-Québec has approved the Agreement's transfer by Venterre NRG Inc. to Boralex. The 20-year contract was awarded in response to the Hydro-Québec Distribution 2008 call for proposals for 2,000 MW of wind power, and start up is slated for late 2015. Boralex plans to build the wind farm on land that is publicly owned by Saint-Elzéar-de-Témiscouata and Saint-Honoré-de-Témiscouata, and is adjacent to the community wind power project currently being developed by Boralex in partnership with the Témiscouata RCM. The RCM and the towns of Saint-Elzéar-de-Témiscouata and Saint-Honoré-de-Témiscouata have shown their support for the project by passing a resolution agreeing to construction of the wind farm on their territory.

The project remains subject to the necessary prior approvals, including the required regulatory permits, the signing of a firm agreement with the turbines supplier and the financing.

About Boralex Boralex is a power producer whose core business dedicated to the development and the operation of renewable energy power stations. Currently, the Corporation operates an asset base with an installed capacity of nearly 500 MW in Canada, the Northeastern United States and France. Boralex is also committed under power development projects, both independently and with European and Canadian partners, to add approximately 400 MW of power. With more than 200 employees, Boralex is known for its diversified expertise and in-depth experience in four power generation types — wind, hydroelectric, thermal and more recently, solar. Boralex's shares and convertible debentures are listed on the Toronto Stock Exchange under the ticker symbols BLX and BLX.DB, respectively. More information is available at www.boralex.com or www.sedar.com .

SOURCE BORALEX INC.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs