TMX group

Sep. 21, 2010 (Canada NewsWire Group) --

MONTREAL, Sept. 21 /CNW Telbec/ - Boralex Inc. ("Boralex") reminds unitholders of the Fund (the "Unitholders") that its offer to purchase (the "Offer") all of the trust units (the "Units") of Boralex Power Income Fund (the "Fund") has been extended to 7:00 p.m. on September 28, 2010.

Under the terms of the Offer, Unitholders may elect to receive, $5.00 consideration per Unit in the form of (a) cash, or (b) 6.75% convertible unsecured subordinated debentures (the "Convertible Debentures"), subject to proration in each case up to the maximum amount available on each take-up date.

The Convertible Debentures that will be issued as consideration for Units that are deposited to the Offer will be received with interest accumulated thereon from September 15, 2010.

Boralex is also pleased to announce that the Convertible Debentures have been well received in the market. Since September 15, 2010, the closing price of the Convertible Debentures, trading on the TSX under the symbol BLX.DB, has been in excess of the $100 principal amount.

Further details of the Offer are contained in the most recent notice of extension and letter of transmittal. Unitholders are encouraged to read the documents and to consider the important information contained therein. Copies of the notice of extension and the letter of transmittal along with other relevant documents are available electronically at www.sedar.com.

Unitholders of the Fund who have not yet deposited their Units in acceptance of the Offer may deposit their Units to the Offer at any time prior to 7:00 p.m. (Montréal time) on September 28, 2010.

About Boralex
Boralex is a major independent power producer whose core business is the development and operation of power stations that generate renewable energy. Employing over 300 people, the Corporation operates 28 power stations with a total installed capacity of 410 megawatts ("MW") in Canada, in the North-eastern United States and in France. In addition, the Corporation has, alone or with its European and Canadian partners, power projects under development that will add close to 300 MW of power, of which almost 100 MW will come online by the end of fiscal 2010. Boralex is distinguished by its diversified expertise and in-depth experience in three power generation segments - wind, hydroelectric and thermal. Boralex also holds, directly or indirectly, a 68% interest in Boralex Power Income Fund, which has 10 power stations with a total installed capacity of 190 MW in Québec and the United States. These sites are managed by Boralex. Boralex shares are listed on the Toronto Stock Exchange (TSX) under the ticker symbol BLX.