MONTRÉAL, Nov. 11, 2015 /PRNewswire/ - Boralex inc. ("Boralex" or the "Corporation") (TSX: BLX) is pleased to announce the commercial commissioning of the Témiscouata II wind power project, located in the Bas-Saint-Laurent region in Canada, with an installed capacity of 51.7 MW.
Patrick Lemaire, President and CEO, pointed out "the exemplary work of our team, which made it possible to complete this project on budget and ahead of schedule."
Covered by a 20-year contract with Hydro-Québec, project construction resulted in direct impacts of approximately $30 million in the Bas-Saint-Laurent region of which $5 million in Témiscouata area. In addition, during the two-year construction period, up to 200 workers were employed, with an average of 40% originating from the Bas-Saint-Laurent region. Boralex will make approximately $250,000 annual voluntary contributions to the Témiscouata RCM.
Note that the project, awarded in 2008 by Hydro-Québec Distribution under its 2005 call for tenders for 2,000 MW of wind power, was originally planned for completion in Montérégie. In 2012, Boralex acquired the power supply contract from another sponsor. Mr. Lemaire added that "it is Boralex's creativity and its respectful approach to development that allowed it to complete this project."
Adjacent to the Témiscouata I community wind farm, in which the Témiscouata RCM is a partner, this is Boralex's second project in the Bas-Saint-Laurent region on the public lands of the Saint-Elzéar-de-Témiscouata and Saint-Honoré-de-Témiscouata municipalities.
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.