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Boralex and Gaz Métro Acquire a Third Wind Project

Source: www.gulfoilandgas.com 11/19/2010, Location: North America

Boralex Inc. and Gaz Métro Eole Inc., a wholly owned subsidiary of Gaz Metro Limited Partnership, (the "Consortium") announce the acquisition of the rights on a wind power project having an installed capacity of 69 megawatts.

Indeed, Kruger Energie Bas-St-Laurent S.E.C., with the consent of Hydro-Québec, has transferred to the Consortium the electricity supply agreement concluded with Hydro-Québec in 2008 following the call for tenders for 2,000 MW of wind energy generated launched by Hydro-Québec in 2005. By buying the contract, the Consortium intends to build a third wind farm on Seigneurie de Beaupré private lands, belonging to the Séminaire de Québec, in the La Côte-de-Beaupré RCM. Once this third project is commissioned, the Seigneurie de Beaupré wind site will become one of the largest in Quebec with an installed capacity of 340 megawatts.

The project remains subject to prior authorization requirements, such as the authorization of the ministère du Développement durable, de l’Environnement et des Parcs, and the conclusion of the main definitive agreements, including the agreement with the turbines supplier, the contractor responsible for civil and electrical engineering works and the financing for this project.

Subject to the foregoing and following the reconfiguration of the project by the Consortium, the commissioning should be around December, 2014.

Seigneurie de Beaupré Wind Site
Following the obtaining of a decree issued by the Québec government, the Consortium carries out further stages of construction according to schedule for the first two Seigneurie de Beaupré wind farms totaling an installed capacity of 272 MW. The site is far from any residential or urban areas thereby making visual and noise impacts of the two wind farms almost nonexistent for the surrounding communities. The commissioning of these projects is scheduled for December 2013.

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