MONTREAL, June 4, 2014 /PRNewswire/ - Boralex Inc. ("Boralex" or the "Corporation") commercially commissioned its 22 MW Jamie Creek hydroelectric power station in British Columbia, Canada.
"After a year of construction, we're proud of the newest addition to our asset portfolio. Boralex has over 20 years' experience building and operating hydroelectric assets, which it leveraged to complete this project and will continue leveraging over the asset's lifetime," said Boralex President and CEO Patrick Lemaire.
Covered by 40-year power sales contract with BC Hydro, Jamie Creek is a run-of-the river power station and Boralex's first high waterfall or "high-head" facility (477 m). Another distinctive feature is the station's two water intakes, consisting of a bypass line of over 1.1 km and a penstock pipe of over 2.6 km, supplying the two Pelton turbines.
"The commissioning of Jamie Creek is a perfect fit with our growth strategy aimed primarily at hydroelectric and wind power assets covered by long-term contracts. It also expands our footprint in British Columbia, where Boralex now has 36.5 MW of hydroelectric power and is actively pursuing development efforts," added Mr. Lemaire.
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 more than 650 MW in Canada, France and the Northeastern United States. Boralex is also committed under power development projects, both independently and with Canadian and European partners, to add approximately 250 MW of power that will be put in service by the end of 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 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 electricity, 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.
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.