Boralex Inc - Adds to Its Presence in United States Completing The Acquisition - of Two Power Stations
- Pursuing its development in United States, Boralex Inc. announces that it has completed the acquisition of two wood-residue based power generating stations totalling 80 MW, located in Ashland and Livermore Falls, in the State of Maine. This transaction represents an investment of US$26,500,000. The electricity produced by the power stations will be sold mainly in the New England market under contracts which are valid for a period of 2 to 3 years. The installed capacity of Boralex will reach approximately 300 MW and some 40 new employees will join the ranks of the Corporation.
In commenting on these acquisitions, Jacques Gauthier, President and Chief Operating Officer, stated : "Boralex will enhance the operating synergies following the consolidation of our activities in the north-east United States, while optimizing the supply of wood residue. Moreover, this transaction, which brings to six the number of power stations owned by the Corporation in the United States, is in line with our objective of profitable growth, in deregulated energy markets or being deregulated".
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