MONTREAL, Dec. 14 /CNW Telbec/ - (BLX.A-TSX) Boralex Inc. ("Boralex") today announced that it has concluded its acquisition of the shares of Eoliennes de la Citadelle S.A.S., a company that holds the building and operating rights to a 12 MW wind farm in the communes of Saint-AgrGeve and Desaignes in ArdGeche, France. The wind farm will consist of six 2 MW wind turbines. All the power generated will be sold to ElectricitDe de France under 15-year long-term contracts. The land leases run for an initial period of forty years, and Boralex has the option to renew for an additional forty-year period. This project will benefit from operating synergies with the two Boralex sites in the Massif Central (Ally-Mercoeur and Cham de Cham Longe). Financing for the project is provided by the master credit agreement entered into last July. A new drawdown of approximately $21.4 million ( (euro) 15.3 million) will be made under this agreement, subject to certain suspensive conditions related to the project. Construction on the site has already begun and commercial startup is slated for October 2006. "With the acquisition of this new project, the result of a very promising development partnership, Boralex is continuing its growth in the wind sector in France so as to maintain its leading position in the French market," said Claude Audet, President and Chief Operating Officer of Boralex. Boralex focuses on four types of power generation: hydroelectric power, thermal or cogeneration power from natural gas or wood residue, and wind power. These are all fields where Boralex has developed proven expertise centered on renewable energy. Boralex employs more than 250 workers and owns 20 power stations in Quebec, the United States and France, with an installed capacity of close to 315 MW, as well as an urban wood processing and recycling centre in Montreal. In addition, Boralex holds a 23% interest in Boralex Power Income Fund which owns 10 power stations in Quebec and the United States with an installed capacity of close to 190 MW. Management of the Fund's assets is provided by Boralex. (www.boralex.com).