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Press release from CNW Group

Boralex pays for units deposited pursuant to its extended offer to acquire Boralex Power Income Fund

Wednesday, September 29, 2010

Boralex pays for units deposited pursuant to its extended offer to acquire Boralex Power Income Fund18:06 EDT Wednesday, September 29, 2010MONTREAL, Sept. 29 /CNW Telbec/ - Boralex Inc. ("Boralex") announces that it has completed the payment for all of the trust units (the "Units") of Boralex Power Income Fund (the "Fund"), which have been deposited and not withdrawn between September 16, 2010 and September 28, 2010 (the "Take-up"), pursuant to the previously announced offer to acquire the Fund by Boralex, as amended (the "Offer").Under the terms of the Offer, unitholders of the Fund (the "Unitholders") could elect to receive, $5.00 consideration per Unit in the form of (a) cash, or (b) 6.75% convertible unsecured subordinated debentures of Boralex Inc. ("Convertible Debentures"), subject to proration in each case up to the maximum amount available on each take-up date.As a result of pro rationing Unitholders who have deposited their Units, prior to the Take-up, to the Cash Alternative (as defined in the Offer), will receive $5.00 in cash per Unit, while Unitholders who have deposited their Units, prior to the Take-up, to the Debenture Alternative (as defined in the Offer) will receive approximately $3.78 of a Convertible Debenture and approximately $1.22 in cash per Unit.Boralex has completed the payment for the Units that have been deposited and not withdrawn by providing Computershare Investor Services Inc. (the "Depositary") with sufficient funds and Convertible Debentures for transmittal to depositing Unitholders. The Depositary will act as the agent of persons who have deposited Units in acceptance of the Offer for the purposes of receiving payment from Boralex and transmitting payment to such persons, and receipt of payment by the Depositary is deemed to constitute receipt of payment by persons tendering Units.It may take several days before the cash and Convertible Debentures are credited to individual accounts held by Unitholders. Under no circumstances will interest accrue or be paid by Boralex or the Depositary on the purchase price for Units purchased by Boralex to persons depositing Units.For more information on the take up and payment of Units, Unitholders are encouraged to contact their individual brokers or Computershare Investor Services Inc. at 1-800-564-6253 (North American Toll Free Number).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.For further information: Ms. Patricia Lemaire, Director, Publics Affairs and Communications, Boralex Inc., 514-985-1353, patricia.lemaire@boralex.com