MONTREAL, March 24, 2021 /PRNewswire/ - During his
speech to the Canadian Club, Patrick Decostre shared the
company's first-ever Corporate Social Responsibility
(CSR) strategy's priority objectives and presented the recent
evolution of the corporation's business environment. With the
acceleration of countries transitioning to renewable energy and
committing to green economic recovery, Boralex sees many growth
opportunities in line with its strategic direction for 2023.
Boralex's new President and CEO first expressed his pride in
assuming the management of the company he has been working with for
nearly 20 years as of last December. He was the company's
first employee in France, where
Boralex is the largest independent producer of onshore wind power.
He succeeded Patrick Lemaire and is based in Montreal.
"For more than 30 years, Boralex has been developing its
collaborators, entrepreneurial spirit and agility—values that are
dear to [founders] Bernard and Patrick Lemaire. Building on
its history and these values, my goal is to enable Boralex to seize
all the opportunities arising from the energy transition by
developing the full potential of renewable energy under the best
possible conditions," said Patrick Decostre.
Beyond Renewable Energy, Boralex's first Corporate
Social Responsibility report
In fall 2020, Boralex made its environmental, social and
governance (ESG) objectives as important as its financial
objectives. On February 24, Boralex presented its first
Corporate Social Responsibility (CSR) report, Beyond Renewable
Energy.
"It's no longer enough to simply produce green, renewable
energy. Responsible growth must provide our shareholders and
investors with the returns they seek, and our stakeholders with
economic, environmental and social benefits. CSR is now a
source of competitiveness and a vector for accelerating the
decarbonization of the economies in which we operate," said
Mr. Decostre.
Boralex's CSR strategy focuses on three areas: leading by
example, making renewable energy in a sustainable and resilient
manner, and respecting our people, planet and community. For 2021,
it will focus on issues related to diversity and equal
opportunities, reducing greenhouse gas emissions, physical and
psychological health, and the safety of all employees.
Strategic planning and financial objectives for 2023
Since 2019, Boralex has been delivering its strategic
planning focused on growth, diversification, customers and
optimization. It has helped Boralex benefit from sustained and
orderly growth through the development of new markets, particularly
in the United States, and its
increased presence in solar energy. The company has carried out
significant asset refinancing and optimized its operations,
particularly by resuming maintenance of its wind power assets. It
continues to diversify its client base, which includes signing
corporate PPAs with major groups such as Auchan and Orange.
While Boralex is on track to reaching its plan's strategic and
financial objectives, the landscape has significantly evolved in
its priority markets in recent years. The recent acquisition of
solar power assets in the United
States has allowed the company to consider new opportunities
in several states, just as the new U.S. federal administration is
making a firm commitment to the energy transition. In Quebec, the Apuiat project is helping boost
the wind power industry; its contribution will be essential to meet
emerging needs and fulfil the government's national electrification
and energy export ambitions. In France, where Boralex is already the largest
independent producer of onshore wind power, the ground-based solar
sector also has strong growth potential, with an additional
national capacity of 2 GW per year by 2028 according to the
Multi-Year Power Program.
"The commitment of all our teams to this strategic plan has been
key to our latest achievements, which have helped our results grow
significantly. We're updating our strategic plan with consideration
of the greater opportunities arising from the accelerated
transition to renewable energy following the publication of
stimulus plans by various governments around the world. This update
will include a review of our financial objectives for 2023 and
allow us to capture more value for Boralex, our partners, our
investors, and the communities and territories in which we operate
and plan to develop projects," concluded the President and CEO.
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 first independent onshore wind power
producer, 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
for 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
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SOURCE Boralex Inc.