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Press release from CNW Group

Boralex Announces the Expiry of Its Offer to Purchase the Units of Boralex Power Income Fund

Tuesday, September 28, 2010

Boralex Announces the Expiry of Its Offer to Purchase the Units of Boralex Power Income Fund19:48 EDT Tuesday, September 28, 2010MONTREAL, Sept. 28 /CNW Telbec/ - Boralex Inc. ("Boralex") announces that its offer, as amended (the "Offer"), to purchase all of the issued and outstanding trust units (the "Units") of Boralex Power Income Fund (the "Fund") has expired today at 7:00 p.m. (ET) and that it will not be further extending the Offer.Computershare Investor Services Inc., in its capacity as depositary under the Offer, has advised Boralex that as of 7:00 p.m. (ET) today an additional 4.5% of Units have been deposited between September 16 and September 28, 2010 in favour of the Offer. Boralex has taken-up the deposited Units which, together with the 13,767,990 units already held by Boralex and the Units previously taken up and paid for on September 16, 2010, represent approximately 73% of the outstanding Units of the Fund.With ownership of approximately 73% of all the Units, Boralex holds a sufficient number of votes to carry out a subsequent acquisition transaction. Boralex has requisitioned the Fund to call a special meeting of Unitholders at which it will seek approval of a special resolution to amend Section 6.29 of the Fund's trust agreement or to adopt a special resolution to authorize and approve an alternative form of subsequent acquisition transaction. The special meeting of the Unitholders will be held on October 21, 2010 at 10 A.M. (ET) and the proxy circular and related materials are being mailed to Unitholders this week.About BoralexBoralex 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 a 73% 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 and convertible debentures are listed on the Toronto Stock Exchange (TSX) under the ticker symbol BLX. More information will be available in the following hours at www.boralex.com or www.sedar.com.For further information: Ms. Patricia Lemaire, Director, Publics Affairs and Communications, Boralex Inc., 514-985-1353, patricia.lemaire@boralex.com