TMX group

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).