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Boralex to sell its last remaining biomass power plant

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Boralex to sell its last remaining biomass power plant

  • Author Nephele Kirong
  • Theme Energy

Boralex Inc. reached a deal to sell its last remaining biomass power plant to Resolute Forest Products Inc. under undisclosed financial terms.

Resolute Forest Products has been supplying by-product for Boralex's 34.5-MW Senneterre power plant in Quebec, according to a Feb. 14 news release. Resolute plans to pay for the purchase of Senneterre with cash on hand.

The sale is in line with Boralex's efforts to advance renewable energy as outlined in its strategic plan, according to Boralex President and CEO Patrick Decostre.

The Senneterre facility holds a power purchase agreement with Hydro-Québec, whose consent is needed for the transaction to be finalized.