November 19, 2010 - Press releases
Montréal, November 19, 2010 – Boralex Inc. and Gaz Métro Éole Inc., a wholly owned subsidiary of Gaz Metro Limited Partnership, (the "Consortium") announce the acquisition of the rights on a wind power project having an installed capacity of 69 megawatts.
Indeed, Kruger Énergie Bas-St-Laurent S.E.C., with the consent of Hydro-Québec, has transferred to the Consortium the electricity supply agreement concluded with Hydro-Québec in 2008 following the call for tenders for 2,000 MW of wind energy generated launched by Hydro-Québec in 2005. By buying the contract, the Consortium intends to build a third wind farm on Seigneurie de Beaupré private lands, belonging to the Séminaire de Québec, in the La Côte-de-Beaupré RCM. Once this third project is commissioned, the Seigneurie de Beaupré wind site will become one of the largest in Quebec with an installed capacity of 340 megawatts.
The project remains subject to prior authorization requirements, such as the authorization of the ministère du Développement durable, de l’Environnement et des Parcs, and the conclusion of the main definitive agreements, including the agreement with the turbines supplier, the contractor responsible for civil and electrical engineering works and the financing for this project.
Subject to the foregoing and following the reconfiguration of the project by the Consortium, the commissioning should be around December, 2014.
Seigneurie de Beaupré Wind Site
Following the obtaining of a decree issued by the Québec government, the Consortium carries out further stages of construction according to schedule for the first two Seigneurie de Beaupré wind farms totaling an installed capacity of 272 MW. The site is far from any residential or urban areas thereby making visual and noise impacts of the two wind farms almost nonexistent for the surrounding communities. The commissioning of these projects is scheduled for December 2013. For further information, please visit the website of the Seigneurie de Beaupré wind site: www.seigneuriedebeaupre.com.
Boralex is a major independent power producer whose core business is the development and operation of power stations that generate renewable energy. Employing over 300 people, the Corporation operates 41 power stations with a total installed capacity of 650 megawatts (“MW”) in Canada, in the North-eastern United States and in France. In addition, the Corporation has, alone or with its European and Canadian partners, power projects under development that will add almost 300 MW of power, of which almost 50 MW will come online by the end of fiscal 2010. Boralex is distinguished by its diversified expertise and in-depth experience in three power generation segments – wind, hydroelectric and thermal. Boralex shares and convertible debentures are listed on the Toronto Stock Exchange under the ticker symbol BLX. More information is available at www.boralex.com or www.sedar.com.
Gaz Métro Overview
With over 3.6 billion in assets, Gaz Métro is Québec’s leading natural gas distributor. Operating in this regulated industry for over 50 years, Gaz Métro has become the trusted energy provider to some 182,000 customers in Québec and 138,000 customers in Vermont while developing the skills and expertise needed to diversify beyond natural gas. Gaz Métro’s prudent growth strategy has been marked by the successful entry into electricity distribution in Vermont and development of wind power projects in Québec. Offering historically strong and stable distributions and showing a competitive spirit, Gaz Métro is committed to its customers, Partners, employees and the community. www.gazmetro.com
For more information:
Ms. Patricia Lemaire
Director, Publics Affairs and Communications
Medias and Public Relations