PR Newswire
MONTRÉAL, March 25, 2020
MONTRÉAL, March 25, 2020 /PRNewswire/ - Boralex Inc. ("Boralex" or the "Corporation") (TSX: BLX) wishes to inform all its stakeholders of the measures the Corporation is quickly rolling out to ensure the safety and well-being of its employees in Canada, France and the United States.
Boralex has implemented the business continuity plan for its operations that are deemed essential by the governments of Québec, Ontario, France and New York State. The Corporation has secured the electrical production of its assets by modifying its modes of operation and has set up a backup plan for its sites under construction. By supplying electricity during this exceptional time, Boralex is helping to ensure that essential services such as hospitals and health administrations can continue to function.
"The management team and all Boralex employees are safe and healthy. We are mobilized and ready to deal with the challenges of COVID-19," said Patrick Lemaire, President and Chief Executive Officer of Boralex. "For Boralex, the priority is to keep producing electricity, an essential service, at our business units in Canada, France and the United States. We're in an excellent financial position and have solid long-term contracts with major government corporations for 97% of our production. I thank our employees and their families for their flexibility, understanding and dedication in this period of enormous change in our behaviours and ways of doing things."
Boralex also wishes to congratulate governments on their management of this crisis that is having such a profound impact on all daily activities.
Safety, health and wellness of employees
Maintaining Operations
Strong balance sheet and generation of discretionary cash flows
About Boralex
Boralex develops, builds and operates renewable energy power facilities in Canada, France, the United Kingdom 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 are listed on the Toronto Stock Exchange under the ticker symbol BLX. More information is available at www.boralex.com or www.sedar.com. Follow us on Facebook, LinkedIn and Twitter.
Caution regarding forward-looking statements
Some of the statements contained in this press release, including the execution of the Renewable Energy Standard Agreements and timing thereof, are forward-looking statements based on current expectations, within the meaning of securities legislation.
Boralex would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results or the measures it adopts could differ materially from those indicated by or underlying these statements, or could have an impact on the degree of realization of a particular forward-looking statement.
Unless otherwise specified by the Corporation, the forward-looking statements do not take into account the possible impact on its activities of transactions, non-recurring items or other exceptional items announced or occurring after the statements are made. There can be no assurance as to the materialization of the results, performance or achievements as expressed or implied by forward-looking statements. The reader is cautioned not to place undue reliance on such forward-looking statements.
Unless required to do so under applicable securities legislation, management of Boralex does not assume any obligation to update or revise forward-looking statements to reflect new information, future events or other changes.
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SOURCE Boralex Inc.
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