Boralex marks first entry into Ontario wind power market
MONTREAL, QUE-Boralex has signed an agreement to acquire nine wind farms, each with an installed capacity of ten megawatts (MW), in the region of Windsor, Ontario. The transaction, which is subject to the fulfilment of certain closing conditions, will allow Boralex to commercially commission and operate its first wind farms in Canada in 2008. All energy generated by these projects will be sold to the Ontario Power Authority under 20-year contracts negotiated within the framework of the Ontario government's standard offer program. The Quebec company will be working in partnership with Gengrowth, a privately-held Toronto firm involved in the creation of renewable energy projects. Once completed, the Windsor projects will double Boralex's current wind power sector capacity. The company owns and operates 21 power stations with a combined installed capacity of 333 MW in Quebec, the northeastern U.S. It specializes in power generation primarily from renewable sources: wind power, hydroelectric power, thermal and cogeneration power from natural gas or wood residue.