MONTRÉAL, April 13, 2015 /CNW Telbec/ - Boralex Inc. ("Boralex" or the "Corporation") (TSX: BLX) is commissioning two wind farms for a total of almost 33 MW in France and starting construction on a 16 MW hydroelectric power station in Canada.
Wind in France
Comes de l'Arce wind farm (10 MW - 5 Vestas turbines), recently acquired by the Enel Green Power France SAS acquisition, and St-François wind farm (22.8 MW - 8 GE turbines) have been commissioning at the beginning of april on-time and on-budget. Both wind farms have a 15-year power purchase agreements with Électricité de France.
Hydroelectric in Canada
"Following analysis and development of the Yellow Falls hydroelectric project for which the rights had been acquired previously, Boralex finally started to work on its first hydroelectric power station in Ontario," stated Boralex President and CEO Patrick Lemaire.
With a total capacity of 16 MW, the Yellow Falls hydroelectric power station is located on Mattagami River, 18 km south of the municipality of Smooth Rock Falls. Construction of Yellow Falls, which is 75% owned by Boralex, will require between $90 million and $95 million in investments and the power station is slated for commissioning in the first quarter of 2017. The project is estimated to generate 67 Gwh of power and EBITDA of $7 million annually.
Yellow Falls has an initial 20-year power sales contract with four renewal options each for a five-year period, at the Corporation's discretion. Further information is available on the Boralex website (www.boralex.com/projects/yellowfalls).
Boralex is a power producer whose core business is dedicated to the development and the operation of renewable energy power stations. With about 250 employees, Boralex is known for its diversified expertise and in-depth experience in four power generation types — wind, hydroelectric, thermal and solar. Currently, the Corporation operates in Canada, France and the United States an asset base with a capacity of more than 1,140 MW, of which 970 MW are under its control. Boralex is also developing, both independently and with partners, a number of energy projects of which over 140 MW of power will be commissioned by the end of 2017. 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.
Caution regarding forward-looking statements
Some of the statements contained in this press release, including those regarding future results and performance, are forward-looking statements based on current expectations, within the meaning of securities legislation. Boralex would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results or the measures it adopts could differ materially from those indicated by or underlying these statements, or could have an impact on the degree of realization of a particular projection. The main factors that could lead to a material difference between the Corporation's actual results and the projections or expectations set forth in the forward-looking statements include, but are not limited to, the general impact of economic conditions, raw material price increases and availability, currency fluctuations, volatility in the selling price of electricity, the Corporation's financing capacity, negative changes in general market conditions and regulations affecting the industry, as well as other factors discussed in the Corporation's filings with the various securities commissions.
Unless otherwise specified by the Corporation, the forward-looking statements do not take into account the possible impact on its activities, transactions, non-recurring items or other exceptional items announced or occurring after the statements are made.
There can be no assurance as to the materialization of the results, performance or achievements as expressed or implied by forward-looking statements. The reader is cautioned not to place undue reliance on such forward-looking statements. Unless required to do so under applicable securities legislation, Boralex management does not assume any obligation to update or revise forward-looking statements to reflect new information, future events or other changes.
SOURCE Boralex Inc.
For further information: Media: Patricia Lemaire, Director, Public Affairs and Communications, Boralex Inc., 514-985-1353, [email protected] ; Investors : Marc Jasmin, Director, Investor Relations, Boralex Inc., 514-284-9868, [email protected]