Latest news with #Boralex
Yahoo
24-05-2025
- Business
- Yahoo
Two Rivers, Fort Covington solar projects moving forward
May 24—MASSENA — Boralex Inc. has entered into a Renewable Energy Standard Agreement with the New York State Energy Research and Development Authority (NYSERDA) to move two proposed solar projects forward — Two Rivers Solar Project in the towns of Massena and Brasher and Fort Covington Solar Farm in Fort Covington. Gov. Kathleen C. Hochul announced Thursday that contracts had been executed for 26 projects that, when completed, will provide more than 2.5 gigawatts of clean energy, which she said is enough to power more than 670,000 homes in the state. In addition, Hochul said, the projects will create more than 1,900 near-term, family-supporting jobs, and generate more than $6 billion in private investment. The contracts were awarded as part of NYSERDA's 2024 Renewable Energy Standard Competitive Solicitation for the purchase of New York Tier-1 Eligible Renewable Energy Certificates (RECs). Each REC represents the environmental attributes of 1 megawatt-hour of electricity generated from an eligible renewable source such as solar energy "This is very exciting news for our town and the state as it looks to achieve its climate goals," Brasher Town Supervisor Mark A. Peets said. "Throughout the development of this project, Boralex has done an excellent job communicating the benefits to our community. They've listened to our concerns and, more importantly, made meaningful project changes that have helped build trust and support. We look forward to the hundreds of construction jobs, and tens of millions of dollars in economic development these projects will provide." "These developments are great news for our community and the surrounding area," Massena Town Supervisor Susan J. Bellor said. "I very much look forward to continuing to strengthen the relationship between Boralex and our town, and I'm excited about the long-term positive economic impact the project will have — not only for the participating landowners, but the broader community." Boralex US Development LLC filed an application with the state Office of Renewable Energy Siting and Electric Transmission (ORES) in January for the proposed solar facility in the towns of Brasher and Massena. The permit application is currently under review by ORES. The Two Rivers Solar Project will be an approximately 200-megawatt solar photovoltaic electric generating facility located on approximately 1,000 acres of land. Project representatives had provided an overview of the plans during two open houses, one in September in Brasher and another in April 2024 at the Massena Community Center. The project, which Boralex originated in 2021, will include solar arrays and other project infrastructure such as the site roads, substation, and electrical interconnection to the New York Power Authority's new 345-kilovolt circuit. The project will create approximately 150 jobs during construction, as well as two to three long-term jobs to support operations and maintenance. Officials said during the open house that they were committed to developing a local workforce and using local workers as much as possible. In addition, the project will boost the local economy and add commerce for local businesses during construction and operation, and will provide significant tax revenues to the towns of Massena and Brasher, St. Lawrence County and local school districts. Construction is expected to begin in 2026, with commissioning expected in 2028. More information about the project can be found at The Two Rivers Solar Project and Fort Covington Solar Farm were among seven north country projects that entered into contracts. Others included the Lyons Falls Mill Repower in Lewis County and Tracy Solar Energy Center in Jefferson County, as well as projects in Essex and Clinton counties.
Yahoo
21-05-2025
- Business
- Yahoo
U.S. Growth Strategy: Boralex Signs Contracts for Two New York Solar Projects Totaling 450 MW
MONTREAL, May 21, 2025 (GLOBE NEWSWIRE) -- Boralex Inc. ('Boralex' or the 'Company') (TSX: BLX) is pleased to announce it has entered into a Renewable Energy Standard Agreement with the New York State Energy Research and Development Authority (NYSERDA) to procure Tier-1 RECs from each of its Fort Covington Solar Project and Two Rivers Solar Project, totaling 450 MW. The signing of these contracts marks a significant milestone in Boralex's contribution to renewable energy in New York and in the Company's development in this promising market. These contracts were awarded as part of NYSERDA's 2024 Renewable Energy Standard Competitive Solicitation for the purchase of New York Tier-1 Eligible Renewable Energy Certificates (RECs). Each REC represents the environmental attributes of one megawatt-hour of electricity generated from an eligible renewable source such as solar energy. The two solar facilities will be located in Franklin and St. Lawrence Counties in upstate New York, with permit applications currently under review by the state Office of Renewable Energy Siting and Electric Transmission: The Fort Covington Solar Project (250 MW) is located in the Town of Fort Covington, Franklin County. The Two Rivers Solar Project (200 MW) is located in the Towns of Brasher and Massena, St. Lawrence County. "New York is committed to building a clean energy economy, and Boralex is honored to meaningfully contribute toward achieving the State's renewable energy targets," said Patrick Decostre, President and Chief Executive Officer of Boralex. "We appreciate NYSERDA's confidence in our projects. New York State is a strategic growth market for Boralex, and we are proud to support the State's renewed commitment to advancing clean energy infrastructure.' "Our execution of these contracts for the Fort Covington and Two Rivers projects reflects Boralex's strategic focus on growing our U.S. renewable energy platform," added Hugues Girardin, Executive Vice President, General Manager North America, Boralex. "We are extremely proud of our teams, whose expertise and dedication continue to drive Boralex's successful expansion across North America in response to the consistently strong demand for green electricity." 'Renewable energy projects like Fort Covington and Two Rivers, are crucial to New York's clean energy transition,' said NYSERDA President and CEO Doreen M. Harris. 'Additionally, public-private partnerships like this will bring meaningful benefits to Franklin and St. Lawrence counties by spurring economic investments and delivering affordable and locally-sourced energy to residents of these communities.' "This is very exciting news for our town and the state as it looks to achieve its climate goals,' said Mark Peets, Supervisor of the Town of Brasher. 'Throughout the development of this project, Boralex has done an excellent job communicating the benefits to our community. They've listened to our concerns and, more importantly, made meaningful project changes that have helped build trust and support. We look forward to the hundreds of construction jobs, and tens of millions of dollars in economic development these projects will provide.' "These developments are great news for our community and the surrounding area,' said Susan Bellor, Supervisor, Town of Massena. 'I very much look forward to continuing to strengthen the relationship between Boralex and our town, and I'm excited about the long-term positive economic impact the project will have – not only for the participating landowners, but the broader community." "Small towns like ours don't often get opportunities like this," said Pat Manchester, Supervisor of the Town of Fort Covington. "The Fort Covington Solar Project represents a major investment in our community and our future. We're excited about the jobs, increased tax revenues, and the momentum it brings for sustainable economic growth. Boralex has been a transparent, responsive partner throughout this process, and we're proud to host a project of this scale and significance." Construction of both projects is expected to begin in 2026, and are expected to be commissioned in 2028. They will bring substantial economic, social, and environmental benefits to New York State and to local communities. Once constructed, the projects will together provide enough energy to power approximately 105,000 homes, support approximately 300 to 400 construction jobs, and create long-term operational roles, further strengthening the local economy and advancing the State's transition to clean energy. Caution Regarding Forward-Looking Statements Some of the statements contained in this press release, including those regarding the start of construction of the projects and their commissioning, are forward-looking statements based on current expectations, within the meaning of securities legislation. Boralex would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results or the measure it adopts could differ materially from those indicated by or underlying these statements, or could have an impact on the degree of realization of a particular forward-looking statement. Unless otherwise specified by the Company, the forward-looking statements do not take into account the possible impact on its activities, transactions, non-recurring items or other exceptional items announced or occurring after the statements are made. There can be no assurance as to the materialization of the results, performance, or achievements as expressed or implied by forward-looking statements. The reader is cautioned not to place undue reliance on such forward-looking statements. Unless required to do so under applicable securities legislation, Boralex management does not assume any obligation to update or revise forward-looking statements to reflect new information, future events or other changes. About Boralex At Boralex, we have been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France's largest independent producer of onshore wind power, we also have facilities in the United States and development projects in the United Kingdom. Over the past five years, our installed capacity has increased by more than 50% to over 3.2 GW. We are developing a portfolio of projects in development and construction of more than 8 GW in wind, solar and storage projects, guided by our values and our corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, our discipline, our expertise and our diversity, we continue to be an industry leader. Boralex's shares are listed on the Toronto Stock Exchange under the ticker symbol BLX. For more information, visit or Follow us on Facebook, LinkedIn and Instagram. For more information MEDIA INVESTOR RELATIONS Camille LaventureSenior Advisor, Public Affairs and External CommunicationsBoralex Inc.438 Stéphane MilotVice President, Investor Relations and Financial Planning and AnalysisBoralex Inc.514 MEDIA – NORTH AMERICA Zachary HutchinsManager, Public Affairs and CommunicationsBoralex Inc.518 Source: Boralex in to access your portfolio
Yahoo
20-05-2025
- Business
- Yahoo
Invitation: Boralex to hold Investor Day and present its 2030 Strategy on June 17, 2025
MONTREAL, May 20, 2025 (GLOBE NEWSWIRE) -- Boralex inc. ('Boralex' or the 'Company') (TSX: BLX) announces that its 2030 Strategy will be presented at an Investor Day on June 17, 2025, from 10 a.m. to 12:30 p.m., in Toronto. Financial analysts, investors and the media are invited to attend the conference in person in Toronto or via a live video webcast during which members of Boralex's senior management will present the various aspects of the 2030 Strategy and financial targets. Date and time Tuesday, June 17, 2025, from 10 a.m. to 12:30 p.m. (ET) To attend the live conference Webcast link: In person in Toronto (analysts, investors and media): please contact Dominique Hamelin ( to reserve your place. Anyone interested in this conference are invited to attend the webcast, which will be broadcast live and available for replay on Boralex's website at until July 17, 2026. Media availability Members of Boralex's Executive Committee will be available for media interviews on the afternoon of June 17, 2025, either by telephone or videoconference, to discuss the company's 2030 Strategy. For more information or to schedule an interview, please contact Camille Laventure, Senior Advisor, Public Affairs and Communications. Her contact details are provided at the end of this press release. About Boralex At Boralex, we have been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France's largest independent producer of onshore wind power, we also have facilities in the United States and development projects in the United Kingdom. Over the past five years, our installed capacity has increased by more than 50% to 3.2 GW. We are developing a portfolio of projects in development and construction of more than 8 GW in wind, solar and storage projects, guided by our values and our corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, discipline, expertise and diversity, we continue to be an industry leader. Boralex's shares are listed on the Toronto Stock Exchange under the ticker symbol BLX. For more information, visit or Follow us on Facebook, LinkedIn and Instagram. For more information MEDIA INVESTOR RELATIONS Camille LaventureSenior Advisor, Public Affairs and External CommunicationsBoralex Inc.438 Stéphane MilotVice President, Investor Relations and Financial Planning and AnalysisBoralex Inc.514 Source: Boralex in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
20-05-2025
- Business
- Associated Press
Invitation: Boralex to hold Investor Day and present its 2030 Strategy on June 17, 2025
MONTREAL, May 20, 2025 (GLOBE NEWSWIRE) -- Boralex inc. ('Boralex' or the 'Company') (TSX: BLX) announces that its 2030 Strategy will be presented at an Investor Day on June 17, 2025, from 10 a.m. to 12:30 p.m., in Toronto. Financial analysts, investors and the media are invited to attend the conference in person in Toronto or via a live video webcast during which members of Boralex's senior management will present the various aspects of the 2030 Strategy and financial targets. Date and time Tuesday, June 17, 2025, from 10 a.m. to 12:30 p.m. (ET) To attend the live conference Webcast link: In person in Toronto (analysts, investors and media): please contact Dominique Hamelin ( [email protected] ) to reserve your place. Anyone interested in this conference are invited to attend the webcast, which will be broadcast live and available for replay on Boralex's website at until July 17, 2026. Media availability Members of Boralex's Executive Committee will be available for media interviews on the afternoon of June 17, 2025, either by telephone or videoconference, to discuss the company's 2030 Strategy. For more information or to schedule an interview, please contact Camille Laventure, Senior Advisor, Public Affairs and Communications. Her contact details are provided at the end of this press release. About Boralex At Boralex, we have been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France's largest independent producer of onshore wind power, we also have facilities in the United States and development projects in the United Kingdom. Over the past five years, our installed capacity has increased by more than 50% to 3.2 GW. We are developing a portfolio of projects in development and construction of more than 8 GW in wind, solar and storage projects, guided by our values and our corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, discipline, expertise and diversity, we continue to be an industry leader. Boralex's shares are listed on the Toronto Stock Exchange under the ticker symbol BLX. For more information, visit or Follow us on Facebook, LinkedIn and Instagram. For more information Source: Boralex inc.
Yahoo
17-05-2025
- Business
- Yahoo
Returns On Capital At Boralex (TSE:BLX) Paint A Concerning Picture
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. However, after investigating Boralex (TSE:BLX), we don't think it's current trends fit the mold of a multi-bagger. Our free stock report includes 4 warning signs investors should be aware of before investing in Boralex. Read for free now. If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation on Boralex is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.029 = CA$196m ÷ (CA$7.6b - CA$795m) (Based on the trailing twelve months to March 2025). So, Boralex has an ROCE of 2.9%. Even though it's in line with the industry average of 3.3%, it's still a low return by itself. See our latest analysis for Boralex In the above chart we have measured Boralex's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Boralex . When we looked at the ROCE trend at Boralex, we didn't gain much confidence. Over the last five years, returns on capital have decreased to 2.9% from 3.9% five years ago. Given the business is employing more capital while revenue has slipped, this is a bit concerning. This could mean that the business is losing its competitive advantage or market share, because while more money is being put into ventures, it's actually producing a lower return - "less bang for their buck" per se. In summary, we're somewhat concerned by Boralex's diminishing returns on increasing amounts of capital. Despite the concerning underlying trends, the stock has actually gained 17% over the last five years, so it might be that the investors are expecting the trends to reverse. Regardless, we don't like the trends as they are and if they persist, we think you might find better investments elsewhere. One more thing: We've identified 4 warning signs with Boralex (at least 2 which are concerning) , and understanding them would certainly be useful. For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
