MONTREAL, Nov. 28, 2013 /CNW Telbec/ - Boralex Inc. ("Boralex"), Gaz
Métro Limited Partnership ("Gaz Métro") and Valener Inc. ("Valener")
are pleased to announce commercial commissioning of the first 131 MW of
the Seigneurie de Beaupré Wind Farms within the projected time frame.
"After more than eight years of hard work by the Boralex and Gaz Métro
teams, we are proud that the first 62 turbines are supplying green
energy to Québec's power grid," stated Sophie Brochu, President and
Chief Executive Officer of Gaz Métro, and Patrick Lemaire, President
and Chief Executive Officer of Boralex. Within the next few days, an
additional 141 MW will also be commissioned, thereby completing the
largest phase of the Seigneurie de Beaupré Wind Farms.
We would like to highlight the vital contribution of many actors who
made possible the commissioning of the 272 MW Phase I on schedule:
Séminaire de Québec, the owner of the land; Borea, the contractor
responsible for construction of the roads, collector systems and the
substation; Enercon, the turbine manufacturer of the 126 wind turbines;
and elected officials of the region and a large number of local
enterprises.
Mr. Jacques Roberge, Superior General of the Séminaire de Québec, noted
that, "concluding this important step on schedule is proof that we are
working with quality partners, Québecers no less, and we are extremely
happy that we will be continuing a long-term relationship with them to
operate and develop the site."
Highlights of the 272 MW Phase I of the Seigneurie de Beaupré Wind
Farms:
-
50,000 Québec homes can be supplied with electricity annually
-
1.5 million hours of work were needed to erect the 126 turbines
-
$750 million in investments, including $360 million in Québec and
$145 million in the Capitale-Nationale region
-
More than 30 local businesses in the Côte-de-Beaupré region took part in
the 272 MW Phase I construction
Ms. Brochu and Mr. Lemaire underscored that, "2013 marks the closing of
the most significant portion of the work on the Seigneurie de Beaupré
property. In 2014, Phase II, with a capacity of 68 MW, will be
commissioned, and in 2015 the 25 MW community project will complete
this wind farm, one of the largest in Canada."
For more information, please visit the Seigneurie de Beaupré Wind Farms
site at: www.seigneuriedebeaupre.com
About the Seigneurie de Beaupré Wind Farms
The Seigneurie de Beaupré Wind Farms, with a total contracted capacity
of 365 MW, are, as of today, one of the largest wind power projects in
development in Canada. The first phase of 272 MW (Farms 2 & 3),
comissionned in late 2013, and the second phase of 68 MW (Farm 4),
which is expected to start operating in late 2014, represents the
projects of the Boralex and Gaz Métro|Valener consortium. In addition,
the 25 MW Côte-de-Beaupré wind farm built in partnership by Boralex and
the Côte-de-Beaupré RCM is expected to start up in 2015.
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 600 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
approximately 300 MW of power that will be put in service between 2013
and 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.
Certain statements contained in this press release, including those
regarding future results and performance, are forward-looking
statements based on current expectations. The accuracy of such
statements is subject to a number of risks, uncertainties and
assumptions that may cause actual results to differ materially from
those projected, including, but not limited to, the general impact of
economic conditions, raw material price increases and availability,
currency fluctuations, volatility in electricity selling prices, the
company's financing capacity, negative changes in general market
conditions and regulations affecting the industry, as well as other
factors listed in the Company's filings with different securities
commissions.
There can be no assurance as to the materialization of the results,
performance or achievements as expressed or implied by forward-looking
statements. The reader is cautioned not to place undue reliance on such
forward-looking statements. Unless required to do so under applicable
securities legislation, Boralex management does not assume any
obligation to update or revise forward-looking statements to reflect
new information, future events or other changes.
About Gaz Métro and Valener
With more than $5 billion in assets, Gaz Métro is a leading energy
provider. It is the largest natural gas distribution company in Quebec,
where its network of over 10,000 km of underground pipelines serves 300
municipalities and more than 190,000 customers. Gaz Métro is also
present in Vermont, producing electricity and distributing electricity
and natural gas to meet the needs of more than 305,000 customers. Gaz
Métro is actively involved in the development of innovative, promising
energy projects such as the production of wind power, the use of
natural gas as a transportation fuel and the development of biomethane.
Gaz Métro is a major energy sector player who takes the lead in
responding to the needs of its customers, regions and municipalities,
local organizations, and communities while also satisfying the
expectations of its Partners (GMi and Valener) and employees. www.gazmetro.com
Valener owns an economic interest of approximately 29% in Gaz Métro.
Valener therefore has a stake in the energy industry and benefits from
Gaz Métro's diversified profile, both in terms of geography and
business segment. Valener also owns a 24.5% indirect interest in the
wind power projects jointly developed with Gaz Métro and Boralex Inc.
on the private lands of Séminaire de Québec. Valener's common shares
and preferred shares are listed on the Toronto Stock Exchange under the
"VNR" trading symbol for common shares and under the "VNR.PR.A" symbol
for Series A preferred shares. www.valener.com
Certain statements contained in this press release may be
forward-looking pursuant to applicable securities laws. Such
forward-looking statements reflect the intentions, plans, expectations
and opinions of the management (the "Management") of Gaz Métro inc.
acting in its capacity as General Partner of Gaz Métro and are based on
information currently available to Management and assumptions about
future events. Forward-looking statements involve known and unknown
risks and uncertainties and other factors outside Valener or
Gaz Métro's control. A number of factors could cause actual results of
Valener and Gaz Métro to differ materially from the current
expectations as expressed in the forward-looking statements.
Although these forward-looking statements are based upon what Management
believes to be reasonable assumptions, Valener and Gaz Métro cannot
assure investors that actual results will be consistent with these
forward-looking statements. These forward-looking statements are made
as of the date of this press release, and Valener and Gaz Métro assume
no obligation to update or revise them to reflect new events or
circumstances, except as required pursuant to applicable securities
laws. You are cautioned not to place undue reliance on these
forward-looking statements. The complete version of the cautionary note
regarding forward-looking statements as well as a description of the
relevant assumptions and risk factors likely to affect Valener's and
Gaz Métro's actual results are included in the Management's Discussion
and Analysis for the year ended September 30, 2013 of Valener and
Gaz Métro, and in Valener's disclosure filings. These documents are
available on SEDAR at www.sedar.com.
SOURCE Boralex Inc.
Image with caption: "Seigneurie de Beaupré Wind Farms (CNW Group/Boralex Inc.)". Image available at: http://photos.newswire.ca/images/download/20131128_C5842_PHOTO_EN_34025.jpg
