Boralex Inc. says it has acquired an electricity supply agreement to develop a 50 MW wind project in Quebec's Temiscouata Regional County Municipality (RCM).
Hydro-Quebec has approved the agreement's transfer by Venterre NRG Inc. to Boralex. The 20-year contract was awarded in response to Hydro-Quebec's Distribution 2008 call for proposals for 2 GW of wind power.
Boralex plans to build the wind farm on land that is publicly owned by Saint-Elzear-de-Temiscouata and Saint-Honore-de-Temiscouata and is adjacent to the community wind power project currently being developed by Boralex in partnership with the Temiscouata RCM.
The RCM and the towns of Saint-Elzear-de-Teiscouata and Saint-Honorede-Teiscouata have shown their support for the project by passing a resolution agreeing to the construction of the wind farm on their territory, Boralex notes.
"Capital needed to develop this project will come, in part, from the proceeds of the recent sale of our U.S. thermal power assets, allowing us to pursue our strategy of developing assets that come with power purchase agreements, particularly in the wind and hydropower segments," explains Patrick Lemaire, Boralex's president and CEO.
The project remains subject to the necessary prior approvals, including the required regulatory permits, the signing of a firm agreement with the turbine supplier, and the financing. The wind farm is slated to begin commercial operation in late 2015.