MONTRÉAL, Nov. 19, 2015 /PRNewswire/ - Côte-de-Beaupré Regional County Municipality ("RCM") and Boralex Inc. ("Boralex" or the "Corporation") (TSX: BLX) are pleased to announce commercial commissioning of the Côte-de-Beaupré community wind farm project. This 23.5 MW capacity project is located on the private lands of the Seigneurie de Beaupré, in the Côte-de-Beaupré region, Québec.
Ms. Parise Cormier, Côte-de-Beaupré RCM Warden, "thanked its partner Boralex for its exceptional collaboration in the completion of this community wind farm, which will create a regional development fund to implement a sustainable development plan for the Côte‑de‑Beaupré communities." In addition, Ms. Cormier thanked the Séminaire de Québec, which authorized the wind farm's construction on its private lands.
Patrick Lemaire, Boralex President and CEO, pointed out that "the experience gained from the construction of the previous Seigneurie de Beaupré development phases made optimal completion of the community wind farm project possible, in addition to its commissioning two weeks ahead of schedule."
Covered by a 20-year contract with Hydro-Québec, project construction resulted in direct impacts of over $2 million for the Côte-de-Beaupré region. As a project partner,
Côte-de-Beaupré RCM will also benefit from annual average net revenues of $800,000.
Note that the 23.5 MW Côte-de-Beaupré wind farm, whose ownership is shared by Côte‑de‑Beaupré RCM (49%) and Boralex (51%), is part of Seigneurie de Beaupré Wind Farms, with total contracted capacity of 365 MW — making it one of Canada's largest wind power projects to date. The 272 MW Phase I, commissioned in late 2013, and 68 MW Phase II, commissioned in late 2014, are Boralex and Gaz Métro | Valener consortium projects.
For more information, visit the Seigneurie de Beaupré Wind Farms site at: www.seigneuriedebeaupre.com.
Boralex develops, builds and operates renewable energy power facilities in Canada, France and the United States. A leader in the Canadian market and France's largest independent producer of onshore wind power, the Corporation is recognized for its solid experience in optimizing its asset base in four power generation types — wind, hydroelectric, thermal and solar. Boralex ensures sustained growth by leveraging the expertise and diversification developed over the past 25 years. Boralex's shares and convertible debentures are listed on the Toronto Stock Exchange under the ticker symbols BLX and BLX.DBA, 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 energy, 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.