Boralex Announces Ontario Wind Farm Project

| About: Boralex Inc.A (BRLXF)

In-line with its plans to operate 1,000 MW by 2012, Kingsley Falls, and Quebec-based Boralex Inc. (OTC:BRLXF) announced Wednesday the acquisition of a wind farm project in the Chatham-Kent region of Ontario, from Gengrowth, a specialized wind farm developer. Financial terms were not disclosed.

In a note from Scotia Bank, analyst Sam Kanes wrote that Boralex intends to link the 100-megawatt wind farm to the Ontario Power Authority's Renewable Energy
Supply III (RES III) Request For Proposal.

The analyst expects the RFP to be heavily oversubscribed, but declined to change his "underperform" rating, and left his one-year price target for Boralex unchanged at C$17.

Mr. Kanes wrote:

In our opinion, a valuation revision with respect to this project will be warranted if/when a [Power Purchase Agreement] PPA is awarded.

About this article:

Tagged: , Water Utilities, Canada
Problem with this article? Please tell us. Disagree with this article? .