MONTRÉAL, April 22, 2014 /CNW Telbec/ - Boralex Inc. ("Boralex" or the
"Corporation") announces that its subsidiary Boralex Europe S.A. has
entered into a long-term financing agreement for the Fortel-Bonnières
and Saint-François wind farms with a total installed capacity of 46 MW
and 16 GE 2.85 MW turbines.
The entire amount of nearly €65 million (C$99 million) or 82% of the
total investment is financed by KfW IPEX-Bank. Loan disbursement is
subject to certain customary conditions, which should be fulfilled by
the end of April 2014.
The loan will be amortized over a 15-year period at a rate of
approximately 3.70% for the full loan term.
Construction is underway at both sites, which are expected to be
commissioned at the end of 2014 for an initial tranche of 23 MW, and in
early 2015 for the second 23 MW tranche.
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 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.
Caution regarding forward-looking statements
Some of the statements contained in this press release, including those
regarding future results and performance, are forward-looking
statements based on current expectations, within the meaning of
securities legislation. Boralex would like to point out that, by their
very nature, forward-looking statements involve risks and uncertainties
such that its results or the measures it adopts could differ materially
from those indicated by or underlying these statements, or could have
an impact on the degree of realization of a particular projection. The
main factors that could lead to a material difference between the
Corporation's actual results and the projections or expectations set
forth in the forward-looking statements include, but are not limited
to, the general impact of economic conditions, raw material price
increases and availability, currency fluctuations, volatility in the
selling price of electricity, the Corporation's financing capacity,
negative changes in general market conditions and regulations affecting
the industry, as well as other factors discussed in the Corporation's
filings with the various 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.
SOURCE Boralex Inc.
