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    BLX   CA09950M3003

BORALEX INC.

(BLX)
  Report
Delayed Toronto Stock Exchange  -  03:58:20 2023-01-30 pm EST
37.42 CAD   -2.04%
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Bougainville wind farm Boralex commissions the first repowered wind farm in the French department of Somme

11/22/2022 | 09:19am EST

Paris (France) - Boralex Inc. ('Boralex' or the 'Company') (TSX: BLX) is pleased to announce the commissioning of the Bougainville Repowering wind farm in the French department of Somme (Hauts-de-France region). The repowering of the wind farm, which was first commissioned in 2005 and has been operated by Boralex since 2018, has increased production by more than 50% through the installation of 6 next-generation wind turbines, for an upgraded installed capacity of 18 MW.

Project statistics:

Commissioning date: November 15, 2022

Wind turbines: 6 Vestas V126

Total capacity before repowering: 12 MW

Total capacity after repowering: 18 MW

Equivalence in household energy needs met after repowering: 16,000+ households

Initially commissioned in 2005, the Bougainville wind farm is the industry's first wind energy asset in the Somme department to have its equipment repowered. Its original 6 wind turbines have been replaced with the same number of new-generation turbines. The old turbines have a recyclability rate of over 90% and will find a new life on the European second-hand market. All the material recovered from the foundations (concrete and steel) has been sent to the appropriate recycling channels for reuse in the construction and public works sector. These commitments are in line with the environmental priorities outlined in Boralex's corporate social responsibility strategy for the responsible use of resources. 'In the midst of the energy crisis, repowering wind farms makes sense. Given the positive environmental impact, the production gains from technological advancements, the extension of our engagement with territories accustomed to wind power and the rapid speed of deployment, wind farm repowering is a concrete response to the government's stated aim of accelerating renewable energy production. This is further proof that renewable energies, which are competitive and protect the purchasing power of the French population, are the key to France's energy challenge,' said Nicolas Wolff, Executive Vice President and General Manager of Boralex, Europe

Wind farm repowering has a role to play in the French energy landscape The multiannual energy program published by the French government in April 2020 calls for more than doubling the country's installed wind power capacity to 34 GW by 2028 (19 GW installed as of December 31, 2021). According to Wind Observatory 2022, published by Capgemini Invent and France Energie Eolienne, wind farm repowering in France could result in an estimated capacity gain of more than 5 GW by 2030

About Boralex

At Boralex, we have been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France's largest independent producer of onshore wind power, we also have facilities in the United States and development projects in the United Kingdom. Over the past five years, our installed capacity has more than doubled to 2.5 GW. We are developing a portfolio of close to 4 GW in wind and solar projects and close to 800 MW in storage projects, guided by our values and our corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, our discipline, our expertise and our diversity, we continue to be an industry

Contact:

Investor

Camille Laventure

Advisor, External Communications

Boralex Inc.

T: 438-883-8580

E: camille.laventure@boralex.com

Stephane Milot

Senior Director

Investor Relations

Boralex Inc.

T: 514 213-1045

E: stephane.milot@boralex.com

Media

France

Virginie Raison

PR Consultant

Oxygen

T: 06 65 27 33 52

E: virginie@oxygen-rp.com

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2022 730 M 547 M 547 M
Net income 2022 67,8 M 50,8 M 50,8 M
Net Debt 2022 3 067 M 2 298 M 2 298 M
P/E ratio 2022 56,8x
Yield 2022 1,73%
Capitalization 3 926 M 2 941 M 2 941 M
EV / Sales 2022 9,58x
EV / Sales 2023 8,49x
Nbr of Employees 598
Free-Float 99,3%
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Number of Analysts 14
Last Close Price 38,20 CAD
Average target price 47,00 CAD
Spread / Average Target 23,0%
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Managers and Directors
Patrick Decostre President, Chief Executive Officer & Director
Bruno Guilmette Chief Financial Officer & Executive Vice President
Alain RhÚaume Chairman
Nicolas Mabboux Senior Vice President-Information Technology
Dany St-Pierre Independent Director
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