MONTRÉAL, July 27, 2017
/PRNewswire/ - Gaz Métro Limited Partnership ("Gaz Métro") (TSX:
GZM.UN) and Boralex Inc. ("Boralex") (TSX: BLX) submitted three
bids today in response to the request for proposals issued on
March 31 by the State of Massachusetts in the United States for the supply of renewable
energy. The project proposed by Gaz Métro and Boralex in these
three submissions, named SBx, is a 300 MW wind project located on
the private land of the Seigneurie de Beaupré territory in
Quebec's Capitale-Nationale
administrative region. SBx would be entirely developed, financed,
built and operated by Boralex and Gaz Métro. Each submission
has been submitted with a different US transmission provider, each
of which proposes a distinctive transmission line for power
delivery in Massachusetts.
"For over 10 years, Gaz Métro and Boralex worked
together to develop the exceptional wind power potential of the
Seigneurie de Beaupré," said Patrick
Lemaire, President and Chief Executive Officer of Boralex.
"The territory's unique characteristics make it suitable for the
development of future wind farms. It is vast, is known to offer
high‑quality wind resources and is located near existing
transmission lines within reach of load centers in the northeastern
U.S. We are confident that SBx has all of the qualities needed to
stand out from the competition."
The bids submitted today by Gaz Métro and Boralex include the
300 MW SBx wind farm which will be firmed up with hydroelectric
power supplied by Hydro-Québec's generating fleet. The synergy
between hydro and wind power would help supply the State of Massachusetts with clean, stable,
sustainable energy well into the future.
"Northeastern U.S. states have adopted ambitious renewable
energy targets and instituted regulatory requirements that favor
wind power, which makes this market very appealing," noted
Sophie Brochu, President and Chief
Executive Officer of Gaz Métro. "Our bid would not only help
Massachusetts achieve its goals in
fighting climate change, it would also help meet its high demand
for electricity, particularly in the winter."
The selected projects are expected to be announced at the
beginning of 2018.
About the Seigneurie de Beaupré Wind Farms
The Seigneurie de Beaupré Wind Farms, with an installed capacity
totaling 364 MW, are currently one of the largest clusters of wind
farms in Canada. The 272 MW farms
2 and 3 (phase I) commissioned in late 2013 and the 68 MW farm 4
(phase II) commissioned in December
2014 are projects of the consortium formed by Boralex and
Gaz Métro|Valener. The 24 MW Côte-de-Beaupré Community Wind
Farm (phase III), commissioned in November
2015, was developed as a partnership between the
Côte-de-Beaupré regional county municipality and Boralex.
About Gaz Métro
With more than $7 billion in assets, Gaz Métro is a
leading energy provider. It is the largest natural gas distribution
company in Quebec, where its
network of over 10,000 km of underground pipelines serves some
300 municipalities and more than 205,000 customers.
Gaz Métro is also present in Vermont, where it has more than
315,000 customers. There, it operates in the electricity
production market and the electricity and natural gas distribution
market. Gaz Métro is actively involved in developing and operating
innovative, promising energy projects, including natural gas as
fuel, liquefied natural gas as a replacement for higher
emission-producing energies, the production of wind and solar power
and the development of biomethane. Gaz Métro is a major energy
sector player that takes the lead in responding to the needs of its
customers, regions and municipalities, local organizations, and
communities while also satisfying the expectations of its Partners
(GMi and Valener) and employees.
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 www.boralex.com or www.sedar.com.
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SOURCE Gaz Métro