Commercial commissioning of the Témiscouata I community wind farm

TÉMISCOUATA-SUR-LE-LAC, QC, Dec. 3, 2014 /CNW Telbec/ - Boralex Inc. ("Boralex") and Témiscouata Regional County Municipality ("RCM") are pleased to announce commercial commissioning of the first 23.5 MW from the Témiscouata wind farms within the projected time frame.

"The Témiscouata I community wind power project is promising from both an environmental and economic perspective. To date, the two wind farms under construction have generated more than $6 million in direct economic spin-offs in Témiscouata as well as a host of indirect benefits," noted Témiscouata RCM Warden Guylaine Sirois. "The wind farms will bring in steady revenues for the next 20 years that will help support our municipalities and economic development in our region," she continued.

"After many years of solid work by the RCM and Boralex teams, we are proud that the first 10 turbines are supplying green energy to Québec's power grid. Concluding now this important step is proof that we are working, for our first municipal project, with quality partners, and we look forward with confidence to continuing a long-term relationship with them to operate and develop the site," stated Boralex President and CEO Patrick Lemaire.

We would like to highlight the vital contribution of many actors in completing the 23.5 MW community phase of the Témiscouata wind farms on schedule to the commissioning date: Hamel Construction, the contractor responsible for construction of the roads and the collector systems, Electro-Saguenay, the contractor responsible for the substation; Enercon, the maker of the 10 wind turbines; the elected officials of the region and a large number of local enterprises. Boralex and Témiscouata RCM also wish to recognize the quality of the team work and skill of the crews.

Work on the Témiscouata II wind farm, with a capacity of 51.7 MW, is also progressing well, with the roads and the foundations completed on target to the initial schedule. Commissioning of the additional MW is slated for late 2015.

Highlights of the Témiscouata I community wind power project:

• More than 225,000 hours of work were needed to erect the 10 Enercon turbines
• 200 workers were involved, 40% of whom live in the Bas-Saint-Laurent and Témiscouata region
• 6 to 8 jobs created to operate the Témiscouata I and II wind farms
• $65 million in investments, of which 60% in Québec and $15 million in the Bas-Saint-Laurent and Témiscouata region
• More than 30 local businesses in the Bas-Saint-Laurent and Témiscouata region took part in the construction

For information, please visit the Témiscouata wind farms website at www.eolientemiscouata.com.

About the Témiscouata wind farms
The Témiscouata wind farms, with a total contracted capacity of 75.2 MW, consist of the 23.5 MW community wind farm (Témiscouata I), a partnership project between Témiscouata RCM and Boralex, commissioned in December 2014, and the 51.7 MW Témiscouata II wind power project, to be commissioned in late 2015.

About the Témiscouata RCM
The Témiscouata regional county municipality ("RCM") is an organization that oversees land development, town planning, environmental protection, and regional, cultural, social and community development. Chaired by an elected reeve, the RCM council is composed of the mayors of the 19 municipalities in its territory. Through political action, the RCM provides leadership on behalf of its citizens. In addition to addressing the physical organization of its territory, the RCM is involved in a number of regional development issues that have a direct impact on the well-being and quality of life of its communities.

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 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. 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.

Unless otherwise specified by the Corporation, the forward-looking statements do not take into account the possible impact on its activities, transactions, non-recurring items or other exceptional items announced or occurring after the statements are made.

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.

Media : Patricia Lemaire, Director, Public Affairs and Communications, Boralex Inc., 514-985-1353, [email protected]; Caroline Chassé, Director, Communications and Culture, Témiscouata RCM, 418-899-6725 extension 111, [email protected]; Investors : Marc Jasmin, Director, Investor Relations, Boralex Inc., 514-284-9868, [email protected]