Boralex to add 50 MW of renewable energy capacity to its portfolio

Source:Boralex

Boralex to expand its renewable energy portfolio with new wind power farms in France and a hydroelectric power station in Canada

Boralex Inc. (TSX: BLX) is commissioning two wind power 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.

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