MONTREAL, July 9 /CNW Telbec/ - Boralex Inc. ("Boralex" or the
"Corporation") announces that it has acquired the rights for a wind project
with a potential installed capacity of 100 MW in Ontario.
This wind power project, located in the municipality of Chatham-Kent,
will be submitted into the Ontario Power Authority's Request for Proposal III
for 500 MW of Renewable Energy Supply likely due this fall. This request for
proposal represents one of the measures taken by the Ontario Government in
view of obtaining 2,000 MW of renewable energy.
"This strategic acquisition allows Boralex to reinforce its presence in
Canada, principally in a region favourable to the production of renewable
energy, and in a sector where its expertise is recognized" mentions
Patrick Lemaire, President and CEO." He also adds: "Boralex and Gengrowth have
united each others forces one more time."
This wind power site was developed by Gengrowth who will continue to work
with Boralex on the project. Paul Merkur, President of Gengrowth comments:
"This competitive project demonstrates Gengrowth's high quality development
expertise and we are excited to be partnering on this opportunity with a first
class organization. "
In 2007, Boralex acquired also from Gengrowth, the rights for nine wind
farms in this south-western Ontario. These nine wind farms have signed
electricity sales contracts with the Ontario Power Authority under Ontario's
Renewable Energy Standard Offer Program. The construction of three of these
nine farms should start in the fall after obtaining the municipal permits.
Boralex is a major private electricity producer whose core business is
the development and operation of power stations that run on renewable energy.
Employing close to 300 people, the Corporation owns and operates 21 power
stations with a combined installed capacity MW of 351 MW in Quebec, the
northeastern United States and France. The Corporation also has 240 MW of
contracted capacity for future production sites. Boralex is distinguished by
its leading expertise and long experience in three types of power generation -
wind, hydroelectric and thermal. The Boralex shares trade on the Toronto stock
exchange under the ticker symbol BLX. www.boralex.com
In addition, Boralex holds a 23% interest in Boralex Power Income Fund
which owns 10 power stations in Quebec and the United States with an installed
capacity of close to 190 MW. Management of the Fund's assets is provided by
For further information:
For further information: Ms. Patricia Lemaire, Director, Public Affairs
and Communications, Boralex Inc., (514) 985-1353,