Boralex Inc. said Tuesday it has acquired an electricity supply agreement for a 50-megawatt wind power project in Témiscouata, Que., from Venterre NRG Inc.
Financial terms of the deal were not immediately available.
"Capital needed to develop this project will come in part from the proceeds of the recent sale of our U.S. thermal power assets; allowing us to pursue our strategy of developing assets that come with power purchase agreements, particularly in the wind and hydropower segments," Boralex president and chief executive officer Patrick Lemaire said.
The 20-year contract was part of a Hydro-Québec call for proposals in 2008 for 2,000 megawatts of wind power. Startup is slated for late 2015.
Boralex said it plans to build the wind farm on land that is publicly owned by Saint-Elzéar-de-Témiscouata and Saint-Honoré-de-Témiscouata, near where the company is already developing a wind power project.
Boralex has power plants in Canada, the United States and France.