MONTRÉAL — Renewable Energy Systems Canada Inc. (“RES”), as Qualified Applicant, and its partner Boralex Inc. (“Boralex” or the “Corporation”) (TSX: BLX), are pleased to announce being selected by the Independent Electricity System Operator (IESO) and awarded an LRP I Contract for a wind power project of installed capacity of 50 MW in the highly competitive LRP I RFP process.
The project named “Otter Creek Wind Farm Project”, which is situated on private lands in the Municipality of Chatham-Kent, is targeted to reach commercial operation by the end of 2019.
RES and Boralex have also been able to obtain the support of the Walpole Island First Nation for this project and the ownership currently stands as follows in the limited partnership interests: RES – 51%, Boralex – 38.5% and the Walpole Island First Nation – 10.5%.
The partnership is also grateful to have received support from the Municipality of Chatham-Kent which has been granted an option to participate in the project up to 15% of the limited partnership interests following commercial operation.
“We look forward to working together with the Municipality of Chatham-Kent and the Walpole Island First Nation to bring the next generation of renewable energy to the area,” said in a common statement by Peter Clibbon, Senior Vice President, Development of RES in Canada and Patrick Lemaire, President and CEO of Boralex. “We are committed to helping Ontario meet its clean energy goals”, they added.
The partnership will organize public meetings shortly in the area of the project to further engage with the communities, describe the community benefits and present the latest evolutions of the project.
Since 1997, RES has been providing development, engineering, construction, and operations services to the wind, solar, transmission, and energy storage markets across North America. The company has constructed more than 8,000 MW of utility-scale renewable energy and energy storage projects and over 1,600 kilometers (km) of transmission lines, including 780MW of projects, across Canada. RES’ Canadian corporate office in Canada is located in Montreal with regional offices in Oakville, Ontario. Globally, RES has developed and/or built over 10 GW of renewable energy capacity, has an asset management portfolio exceeding 1 GW, and is active in a range of renewable technologies including wind, solar, energy storage, transmission, and demand side management.
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.