Boralex closes financing for La Vallée wind project

Jan 24, 2013, 07:00 ET from BORALEX INC.

MONTREAL, Jan. 24, 2013 /PRNewswire/ - Boralex Inc. (" Boralex " or the " Corporation ") announced that its subsidiary Boralex Europe S.A. has closed a long-term financing for the 26 MW portion of the La Vallée wind project.

The financing is being underwritten by a French banking consortium composed of OSEO, Crédit Coopératif and Crédit Mutuel ARKEA. The final amount is €33 million ($43M), or about 77% of the total investment. Financing for remaining 6 MW will be completed within a few weeks when certain standard closing conditions are satisfied.

The borrowed amount will be amortized over a 15-year period at a rate of approximately 4.5% for the full duration of the loan.

The La Vallée wind site has an installed capacity of 32 MW and the electricity generated will be sold to Électricité de France under a long-term, 15-year contract. Construction has been underway since December 2012 and commisionning is scheduled for late 2013.

About Boralex
Boralex is a power producer whose core business is dedicated to the development and the operation of renewable energy power stations. Currently, the Corporation operates an asset base with an installed capacity of almost 500 MW in Canada, the Northeastern United States and France. Boralex is also committed under power development projects, both independently and with Canadian and European partners, to add approximately 550 MW of power that will be put in service between 2013 and 2015. With more than 200 employees, Boralex is known for its diversified expertise and in-depth experience in four power generation types — wind, hydroelectric, thermal and solar. Boralex's shares and convertible debentures are listed on the Toronto Stock Exchange under the ticker symbols BLX and BLX.DB, respectively. More information is available at or

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