MONTREAL, Jan. 31 /CNW Telbec/ - Boralex Inc. ("Boralex" or the
"Corporation") has concluded a power purchase agreement with a trusted
and creditworthy counterparty starting March 1, 2011 for its thermal
power plant in Fort Fairfield. This 2-year contract allows for
continued operation of the facility with similar benefits to Boralex.
In addition, Boralex is working hard to ensure the continued operation
of its Ashland thermal power plant. If no contract is completed by
March 2011, there is a strong likelihood that Boralex will be forced to
suspend operations for an indefinite period.
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 46 power
stations with a total installed capacity of 700 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 www.boralex.com or www.sedar.com.
SOURCE BORALEX INC.
For further information:
Ms. Patricia Lemaire
Director, Publics Affairs and Communications