July 8, 2009 - Press releases
Montreal, Québec, July 8, 2009 – Boralex Inc. and Gaz Métro Limited Partnership (the Consortium) are pleased to learn, by the minister of Natural Resources and Wildlife, Nathalie Normandeau, of the Government of Québec’s approval for their two wind power projects totalling an installed capacity of 272 MW.
“The announcement of this decree, the first to be awarded to a project under the latest Hydro-Québec call for tenders, is excellent news for the Consortium and clearly proves the environmental merit and social acceptability of the Seigneurie de Beaupré wind farms. We are enthusiastic about contributing to the expansion of wind power in Québec,” said Patrick Lemaire, president and chief executive officer of Boralex and Sophie Brochu, president and chief executive officer of Gaz Métro.
Having successfully completed the key step of obtaining environmental approvals, the Consortium can now move ahead with applying for construction permits and financing from financial institutions.
The schedule startup date for the Seigneurie de Beaupré wind farms is December 2013. The Consortium’s wind farms are being built on land owned by the Seminary of Québec, which is perfectly suited to wind power projects. In addition to the excellent wind conditions, the site is removed from urban and residential areas. The wind farms will be built 60 km northeast of Quebec City and 15 km north of Saint-Tite-des-Caps, which means there will be almost no visual or sound impacts for neighbouring communities.
For more information, see the website for the Seigneurie de Beaupré wind farms at www.seigneuriedebeaupre.com
Boralex is a major private electricity producer whose core business is the development and operation of power stations that generate renewable energy. Employing over 300 people, the Corporation owns and operates 22 power stations with a total installed capacity of 365 MW in Canada, in the Northeastern United States and in France. In addition, the Corporation has more than 300 MW of power projects under development. Boralex is distinguished by its diversified expertise and in-depth experience in three power generation segments – wind, hydroelectric and thermal. Boralex shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.
Boralex also holds a 23% interest in Boralex Power Income Fund, which has 10 power stations with a total installed capacity of 190 MW in Québec and the United States. These sites are managed by Boralex.
Gaz Métro Overview
With nearly $3.6 billion in assets, Gaz Métro is Quebec's leading natural gas distribution company. In the last 50 years, Gaz Métro has become the trusted energy provider to over 180,000 customers in Quebec and 134,500 customers in Vermont, a state where it distributes at once natural gas and electricity. Through its implication in the Seigneurie de Beaupré Wind Farm project, Gaz Métro gets involved in the production of renewable energy, continuing its commitment to the satisfaction of its customers, unitholders, employees and community.
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