Boralex Announces Closing of the Sale of the Senneterre Power Plant

MONTREAL, April 01, 2022 (GLOBE NEWSWIRE) -- Boralex Inc. (“Boralex” or the “Company”) (TSX: BLX) announces closing of the sale of the 34.5 MW Senneterre power plant (the “power plant”), the last remaining biomass power generation asset in its portfolio. The power plant has been purchased by a subsidiary of Resolute Forest Products (NYSE: RFP) (TSX: RFP), a company that has a strong presence in the Abitibi-Témiscamingue region.

An agreement for the sale of the Senneterre power plant was announced earlier this year between Boralex and Resolute. As laid out in its updated 2025 Strategic Plan, Boralex is looking to accelerate its growth in the wind, solar and storage sectors while optimizing its hydroelectric facilities. The sale of the Senneterre power plant is consistent with that ambition.

About Boralex

At Boralex, we have been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France’s largest independent producer of onshore wind power, we also have facilities in the United States and development projects in the United Kingdom. Over the past five years, our installed capacity has more than doubled to 2.5 GW. We are developing a portfolio of more than 3 GW in wind and solar projects and nearly 200 MW in storage projects, guided by our values and our corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, our discipline, our expertise and our diversity, we continue to be an industry leader. Boralex’s shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.

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