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Last updated on April 18, 2014 at 16:09 EDT

Boralex announces closing of the Jamie Creek hydroelectric project acquisition

October 25, 2012

MONTREAL, Oct. 25, 2012 /PRNewswire/ – Boralex Inc. (“ Boralex ”)
announces the closing of the acquisition of the 22 MW run of the river
hydroelectric project (the “Project”) located near Gold Bridge, British
Columbia. This acquisition was announced earlier this year on July 25.
The construction of the Project, which was owned by Sequoia Energy
Inc., began in recent months and is expected to be operational in late
2013.

“Now that we have formalized this acquisition, our team will ensure that
a smooth ownership transition is made and will endeavor maintaining the
good and strong relationships fostered by Sequoia over the last few
years of development. Our next immediate goals are to negotiate a
long-term financing and make sure that the construction of the Project
stays on schedule until it is suspended for the winter season,” said
Patrick Lemaire, President and CEO of Boralex.

The Project benefits from a 40-year electricity purchase agreement with
BC Hydro that has a 20-year renewal period.

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 more than 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 over
550 MW of power that will be put in service between the middle of 2013
and 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.

SOURCE BORALEX INC.


Source: PR Newswire