MONTRÉAL, Jan. 25, 2021
/PRNewswire/ - Boralex Inc. (TSX: BLX) ("Boralex" or the
"Corporation") announces that a wholly owned subsidiary of the
Corporation has completed a transaction with Delaware River Solar,
LLC to acquire Sky High Solar Farm, located in New York State.
Sky High Solar Farm is a 20MWac project located in the
Town of Tully, in the County of
Onondaga. The project is
ground-mounted and being developed on three separate parcels of
land across 145 acres. The forecasted electric output is estimated
at 35 gigawatt-hours annually, enough electricity to power 4,600
homes annually. Construction of the Sky High Solar Farm is expected
to be completed by Q3 2022.
"The acquisition of this mature development project marks our
continual progress to achieving the growth and diversification
orientations of our strategic plan," said Patrick Decostre,
President and CEO of Boralex. "Sky High aligns well with our
current New York portfolio, and
will help to advance New York's
clean energy transformation."
In 2018, Sky High Solar Farm was one of 26 projects to be
selected by the New York State
Energy Research Development Authority ("NYSERDA") as part of its
2017 Renewable Energy Standard Solicitation for the purchase of
Tier-1 Eligible Renewable Energy Certificates (RECs). Each REC
represents the environmental attributes of one megawatt hour of
electricity generated from an eligible renewable source like solar.
The project supports New York's
goal to obtain 70 percent of its electricity from renewable sources
by 2030.
About Boralex
Boralex develops, builds and operates
renewable energy power facilities in Canada, France, the United
Kingdom 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
sustainable growth by leveraging the expertise and diversification
developed over 30 years. Boralex's shares are listed on the Toronto
Stock Exchange under the ticker symbol "BLX".
More information is available at www.boralex.com or
www.sedar.com. Follow us on Facebook, LinkedIn and
Twitter.
Caution Regarding Forward-Looking Statements
Some
of the statements contained in this press release, including the
expected annual electric output and completion of construction
date, are forward-looking statements based on current expectations,
within the meaning of securities legislation.
Boralex would like to point out that, by their very nature,
forward-looking statements involve risks and uncertainties such
that its results or the measures it adopts could differ materially
from those indicated by or underlying these statements, or could
have an impact on the degree of realization of a particular
forward-looking statement.
Unless otherwise specified by the Corporation, the
forward-looking statements do not take into account the possible
impact on its activities of transactions, non-recurring items or
other exceptional items announced or occurring after the statements
are made. There can be no assurance as to the materialization of
the results, performance or achievements as expressed or implied by
forward-looking statements. The reader is cautioned not to place
undue reliance on such forward-looking statements.
Unless required to do so under applicable securities
legislation, management of Boralex does not assume any obligation
to update or revise forward-looking statements to reflect new
information, future events or other changes.
About Delaware River Solar
Delaware River Solar is a solar company focused on
developing, building, and operating community solar and large scale
solar projects located across New York
State in order to provide clean, locally produced solar
power and contribute to the state's bold energy and climate goals.
DRS is located in Callicoon, NY
and works with local landowners, governments, organizations, and
residents to responsibly and effectively deliver solar projects
that benefit the community. Since inception, DRS has developed a
pipeline of over 500 MW including community and large scale solar
projects.
For more information, please visit
www.delawareriversolar.com.
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SOURCE Boralex Inc.