Boralex completes the refinancing of a Master Financing Agreement for (euro) 265 Million

    MONTREAL, June 27 /CNW Telbec/ - Boralex Inc. ("Boralex" or the
"Corporation") announces that it has completed the refinancing of some French
financing agreements for a new master agreement for the development, until
2010, of wind power projects in France. The master credit agreement of close
to $380 million ((euro) 265 million) is being assured by BNP Paribas S.A. as
initial bank, arranger and agent.
    Aside the reimbursement of the existing financing agreements, this master
agreement allows Boralex an increased flexibility with regards to funds
availability in France combined with improved financial conditions that take
into account Boralex's wind farms experience.
    Finally, when financing is required for a future project, Boralex will
only have to fulfill certain pre-existing conditions, as BNP Baribas has
already approved the funds availability. During that refinancing BNP Paribas
was advised by Norton Rose while Boralex's advisor was Fraser Milner Casgrain
    About Boralex

    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 of 333 MW in Quebec, the
northeastern United States and France. Boralex is distinguished by its leading
expertise and long experience in four types of power generation - wind power,
hydroelectric power, thermal and cogeneration power from natural gas or wood
residue. The Boralex shares trade on the Toronto stock exchange under the
ticker symbol BLX.
    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: Patricia Lemaire, Director, Communications,
Boralex Inc., (514) 985-1353,

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