Boralex Inc. (“Boralex” or the “Corporation”) (TSX: BLX) is commissioning two wind farms for a total of almost 33 MW in France and starting construction on a 16 MW hydroelectric power station in Canada.
Wind energy 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.
“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.
Boralex is a power producer whose core business is dedicated to the development and the operation of renewable energy power stations. With about 250 employees, Boralex is known for its diversified expertise and in-depth experience in four power generation types — wind, hydroelectric, thermal and solar. Currently, the Corporation operates in Canada, France and the United States an asset base with a capacity of more than 1,140 MW, of which 970 MW are under its control. Boralex is also developing, both independently and with partners, a number of energy projects of which over 140 MW of power will be commissioned by the end of 2017. Boralex’s shares and convertible debentures are listed on the Toronto Stock Exchange under the ticker symbols BLX and BLX.DB, respectively.