MONTRÉAL, Feb. 22, 2017 /PRNewswire/ - Boralex
Inc. ("Boralex" or the "Corporation") (TSX: BLX) announced the
closing of a $33.4 million financing
for the Port Ryerse wind farm in
Ontario, Canada.
Long-term financing of the 10 MW Port Ryerse wind farm,
located on privately-owned lands east of the hamlet of Port Ryerse in Norfolk County, Ontario, is provided by the DZ Bank AG
Deutsche Zentral-Genossenschaftsbank (New
York Branch). The financing consists of a $2.0 million letter of credit facility and a
long-term tranche of $31.4 million. The latter will be amortized
over a period of 18 years beginning December 9, 2016, the
date of the project's commercial operation.
On February 7, 2017, Boralex
acquired all of the units of UDI Renewables Corporation,
representing 25 % of Port Ryerse Wind Farm Limited Partnership,
making Boralex the sole project holder.
Note that the project is covered by a 20-year power purchase
agreement with Ontario's
Independent Electricity System Operator (IESO).
For more information about the Port
Ryerse wind farm, visit:
www.boralex.com/projects/portryerse
About Boralex
Boralex develops, builds and operates renewable energy power
facilities in Canada, France and the
United States. A leader in the Canadian market and
France's largest independent
producer of onshore wind power, the Corporation is recognized for
its solid experience in optimizing its asset base in four power
generation types — wind, hydroelectric, thermal and solar. Boralex
ensures sustained growth by leveraging the expertise and
diversification developed over the past 25 years. Boralex's shares
and convertible debentures are listed on the Toronto Stock Exchange
under the ticker symbols BLX and BLX.DB.A, respectively. More
information is available at http://www.boralex.com or
www.sedar.com.
SOURCE Boralex Inc.