Boralex announces closing of 22 MW run-of-river hydroelectric project acquisition
The project benefits from a 40-year electricity purchase agreement with BC Hydro that has a 20-year renewal period
Montreal, Quebec, Canada, October 29, 2012 — Boralex Inc. closed the acquisition of the 22 MW run of the river hydroelectric project located near Gold Bridge, British Columbia.
This acquisition was announced earlier this year on July 25. The construction of the project, which was owned by Sequoia Energy Inc., began in recent months and is expected to be operational in late 2013.
The project benefits from a 40-year electricity purchase agreement with BC Hydro that has a 20-year renewal period.
Boralex is a power producer whose core business is dedicated to the development and the operation of renewable energy power stations. The corporation operates an asset base with an installed capacity of more than 500 MW in Canada, the Northeastern U.S. and France.
Boralex is also committed under power development projects, both independently and with Canadian and European partners, to add over 550 MW of power that will be put in service between the middle of 2013 and the end of 2015.