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Boralex Announces Sale of Blendecques Cogeneration Plant to Norpaper
Boralex Announces Sale of Blendecques Cogeneration Plant to Norpaper Canada New...
About this update from Boralex Inc. Class A
[{"type":"text","content":"\n \n \n \n Boralex Announces Sale of Blendecques Cogeneration Plant to Norpaper\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n MONTREAL\n \n and\n \n PARIS\n \n ,\n \n April 30, 2021\n \n /CNW Telbec/ - Boralex Inc. (\"Boralex\" or the \"Company\") (TSX: BLX) announced today the sale of the 12 MW Blendecques cogeneration plant, the last thermal energy asset in its French portfolio. The sale was concluded on\n \n Friday, April 30, 2021\n \n , to papermaker Norpaper, Boralex's long-time partner in Blendecques, in\n \n Northern France\n \n , and the sole beneficiary of the thermal power produced by the plant. This will go into effect on\n \n May 1\n \n .\n \n \n \n Boralex, a 100% green operator in\n \n Europe\n \n \n \n \n As the leader in the energy transition, Boralex's primary business is to produce renewable power. Selling this asset enables the Company to position itself as a 100% green operator in\n \n Europe\n \n . This decision is also consistent with Boralex's strategic plan for 2023.\n \n \n \"By its nature, this activity is no longer aligned with our renewable production sites. This sale will enable us to focus full time on our strategic assets,\" said\n \n Nicolas Wolff\n \n , Vice President and General Manager Boralex,\n \n Europe\n \n .\n \n \n \n The plant will maintain its current operations\n \n \n \n During the sale process, Norpaper informed Boralex that it wanted to maintain the plant's current operations. The papermaker therefore proposed to retain the seven jobs assigned to managing the cogeneration facility. All employees involved accepted this transfer and will be joining Norpaper's ranks as of\n \n May 1\n \n .\n \n \n \"We didn't want the sale to impact employees,\" said\n \n Nicolas Wolff\n \n . \"The teams have my sincerest appreciation for their collaboration throughout this process. This is truly a milestone and I thank them for their commitment to Boralex over the years. The Blendecques cogeneration plant's sale is also a testament to its quality as an asset. I wish them all the best with ou...