Boralex Inc. said Dec. 11 that in Canada, Boralex and partner Côte-de-Beaupré RCM have obtained government approvals to commence work on the Côte-de-Beaupré community wind power project in Quebec.
Commissioning of the project’s 25 MW is slated for late 2015. This project is covered by sales contracts with Hydro Quebec.
Said the company in a Nov. 5 financial report about its wind expansion plans: “The wind power segment expanded significantly with installed capacity growing to 462 MW as at September 30, 2014 from 108 MW in December 2008. These operating assets located in France (236 MW) and Canada (226 MW) are fully covered by long-term energy sales contracts. In addition, the Corporation is currently developing, independently or with partners, various wind power projects in which it holds a total share of 194 MW, comprising 60 MW in France and 134 MW in Canada, slated for commissioning in late 2014 and 2015. Backed by its significant financial resources, the Corporation is pursuing other acquisition and development targets in Canada and Europe.”
The financial report added: “Year to date, the Corporation has benefited from the full contribution of assets commissioned in 2013, in particular its share of Phase I of the Seigneurie de Beaupré Wind Farms. Boralex’s management is satisfied with the results to date of this facility, which has been fully operational since December 2013, with production in the first nine-months of the current fiscal year showing promising signs for the future. During the second quarter of 2014, Boralex commissioned a 22 MW hydroelectric power station in British Columbia. By the end of 2014, the Corporation will commission wind power projects in Québec and France in which its share will total 82 MW. It will also pursue the finalization of additional projects totalling 112 MW (Boralex’s share) to be commissioned in 2015.”
Boralex is a power producer whose core business is dedicated to the development and the operation of renewable energy power stations. Currently, it operates an asset base with an installed capacity of more than 750 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 more than 100 MW of power that will be put in service by the end of 2015. Boralex’s shares and convertible debentures are listed on the Toronto Stock Exchange under the ticker symbols BLX and BLX.DB, respectively.