Boralex eyes expansion across Canada
Renewable energy company Boralex Inc. is eyeing expansion opportunities across Canada, including in Quebec’s Far North following Premier Jean Charest’s ambitious plan to develop the region.
MONTREAL: Renewable energy company Boralex Inc. is eyeing expansion opportunities across Canada, including in Quebec’s Far North following Premier Jean Charest’s ambitious plan to develop the region.
The investment announced by the province of $80 billion in both public and private funds over 25 years would help develop an area twice the size of France.
“There are not a lot of details about what is available for the private sector, but we are certainly interested in the northern plan,’’ CEO Patrick Lemaire said.
The first five-year phase includes investment of nearly $400 million for housing, health, education, culture and cost of living offsets for northern communities.
Lemaire said opportunities for companies like Boralex would likely include developing small regional wind and hydro facilities that wouldn’t be tied to the provincial grid.
“If there is a mandate for isolated networks, we can get involved,” he said.
Boralex is spending millions to develop a wind farm on the private lands of the Quebec Seminary as part of its plan to add 400 megawatts of power.
While there are many wind opportunities, Boralex also sees potential for solar in Ontario.
“We are talking to people in Ontario,” he said, adding that Quebec isn’t quite ready to pay the rates that would make such an endeavour viable.
The Montreal-based power producer is preparing to launch its first 4.5 megawatt solar facility in southern France later this quarter.
The company has also identified Turkey and Poland for expansion in the wind sector.
© 2011 The Canadian Press