MONTREAL, Jan. 12 /CNW Telbec/ - Boralex Inc. ("Boralex"), a Canadian
electricity producer whose core business is the development and
operation of power stations that generate renewable energy, and
Q-Cells, a world leader in the photovoltaic industry, announced today
that they have started building a solar energy park in southern France.
Having fulfilled all the regulatory conditions and obtained financing
for the project, Boralex will start building the Avignonet-Lauragais
solar park on January 15, 2011 with the support of Q-Cells. The site is
scheduled to start operating in May 2011. The electricity generated
will add up to 4.5 MW to Boralex's asset portfolio.
"After studying the solar segment in France, Boralex is confident that
this reasonably sized project is our best way to gain a foothold in
solar-powered electricity production," said Patrick Lemaire, President and Chief Executive Officer of Boralex.
He added that "Going forward, Boralex plans to grow in this segment, particularly in
For this first solar project in France, Boralex decided to use the
expertise of Q-Cells Group. Under a turnkey agreement, the engineers of
the Q-Cells French subsidiary are responsible for the engineering,
construction and maintenance of the facility.
Equipped with Q-Cells photovoltaic panels and cells, this first solar
park developed by the Boralex team will be located on land adjacent to
the Avignonet-Lauragais wind farm, creating the first mixed solar and
wind energy power generation site in France.
"We are very pleased with this joint project with Boralex. All the
technical staff in our office in Lyons worked on this project, which
had very specific characteristics, mainly because the site is very
windy," said Daniel Cintolesi, General Director, Q-Cells France.
The Avignonet-Lauragais solar park has a 20-year contract with
Électricité de France and required an investment of €14.6 million. Financing of over 85% of the investment was provided by
the Landesbank Baden-Württemberg bank.
Boralex is a major independent power producer whose core business is the
development and operation of power stations that generate renewable
energy. Employing over 300 people, the Corporation operates 41 power
stations with a total installed capacity of 650 megawatts ("MW") in
Canada, in the North-eastern United States and in France. In addition,
the Corporation has, alone or with its European and Canadian partners,
power projects under development that will add almost 300 MW of power.
Boralex is distinguished by its diversified expertise and in-depth
experience in three power generation segments - wind, hydroelectric and
thermal. Boralex shares and convertible debentures are listed on the
Toronto Stock Exchange under the ticker symbol BLX. More information is
available at boralex.com.
About Q-Cells SE www.q-cells.com
The Q-Cells Group is one of the world's leading photovoltaic companies.
Its extensive product portfolio ranges from solar cells and modules up
through complete photovoltaic systems. Q-Cells develops and
manufactures its products at its Group headquarters in
Bitterfeld-Wolfen, Germany, and markets these via a global distribution
network. A second production facility is located in Malaysia.
At Q-Cells, over 200 scientists and engineers are rapidly advancing
solar technology towards the company's principal aim: achieving rapid
and lasting cost reductions in solar photovoltaics and making the
technology steadily more competitive. The close cooperation among
research, development, production and sales allows Q-Cells scale up
innovations to mass production and market them professionally in the
shortest timeframe possible, thereby assuming a top technological
position in the photovoltaic industry. Q-Cells SE is listed on the
Frankfurt Stock Exchange (QCE; ISIN DE0005558662) and on the German
technology index TecDAX.
SOURCE BORALEX INC.
For further information:
Laurianne Clement + 33 (0)1 47 10 04 08