"With the Calmont wind power project acquisition, Boralex is pursuing its growth in France, strengthening its energy portfolio in the wind segment"
MONTRÉAL, July 30, 2014 - Boralex Inc. ("Boralex" or the "Corporation"), through its subsidiary Boralex Europe S.A., has acquired Calmont 14 MW wind power project in the Midi-Pyrénées region in France.
"With the Calmont wind power project acquisition, Boralex is pursuing its growth in France, strengthening its energy portfolio in the wind segment," said Boralex President and CEO Patrick Lemaire.
With a 15-year power sales contract with EDF France, construction work on the Calmont wind farm will begin during the first quarter of 2015 with commissioning scheduled for year end 2015. In all, Boralex will invest approximately €25 million to complete this project.
Calmont is located a few kilometers from Boralex's Avignonet-Lauragais hybrid solar/wind site offering attractive operating synergy opportunities.
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.