Boralex aims to develop the wind power project in the Témiscouata Regional County Municipality (RCM) in Québec.
Hydro-Québec has approved the transfer of the 20-year contract by Venterre NRG to Boralex.
The contract was awarded in response to the Hydro-Québec Distribution 2008 call for proposals for 2,000MW of wind power, and start up is slated for late 2015.
The project remains subject to the necessary prior approvals, including the required regulatory permits, the signing of a firm agreement with the turbines supplier and the financing.
Boralex president and CEO Patrick Lemaire said the announcement of the new project shows Boralex’s strong positioning in the Canadian wind power segment, and its growth in this sector.
"Capital needed to develop this project will come in part from the proceeds of the recent sale of our US thermal power assets; allowing us to pursue our strategy of developing assets that come with power purchase agreements, particularly in the wind and hydropower segments," Lemaire said.
