Boralex Signs an Agreement to Purchase its First Hydroelectric Power Station in British Columbia

    MONTREAL, June 11 /CNW Telbec/ - Boralex Inc. ("Boralex" or the
"Corporation") announces that it has signed an agreement to acquire a
hydroelectric power station with an installed capacity of 14.5 MW located in
Ocean Falls, British Columbia. In addition to its power purchase agreement,
this power station also brings hydroelectric potential upside of up to 37 MW,
which will be developed by Boralex over the course of the coming years. Also,
Boralex is acquiring two other potential hydro projects under development in
the same area for an additional 10 MW.
    Patrick Lemaire, President and Chief Executive Officer of Boralex, said:
"We are delighted to enter into the British Columbia power market. This
acquisition is in line with our strategic plan to expand our activities in
this province and represents a milestone for our British Colombian
development. The Boralex team will now focus on achieving the full potential
of the power station and on developing the two potential projects."
    A significant portion of the power station's total output is sold to BC
Hydro pursuant to a long-term power purchase agreement under the Remote
Community Electrification Program. The power station currently generates
approximately 13 000 MWh per year. The transaction will be completed following
the receipt of regulatory approvals and the usual consents required for this
type of transaction.

    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 351 MW in Quebec, the
northeastern United States and France. 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.
    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,

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