Latest news with #Énergir
Montreal Gazette
5 days ago
- General
- Montreal Gazette
Trent: Cracking the mystery of Montreal's self-destructing roads
Let's try to crack that great Montreal mystery: Why do we build self-destructing roads? When it comes to durability, all roads lead to Rome. While our roads barely last 50 years, some ancient paved Roman roads still survive. A metre thick, they were built on compacted soil in four layers: crushed rock, mortared crushed rock, concrete, and stone pavers. Two millennia later, in 1816, roads of compacted gravel called macadam were developed by John McAdam — not, however, the John Macadam whose name graces the rather more digestible macadamia nut. Macadam was far inferior to its Roman equivalent, without even a concrete layer because 'modern' concrete was first used for paving in 1865. By 1904, macadam had tar added to it as a binder and dubbed 'tarmac.' We call it asphalt. Roadbuilding techniques have essentially remained unchanged ever since, but stresses on roads have multiplied — think of the pounding of 50,000-kilogram loaded trucks compared to wagon-wheeled carts. For many Quebec roads, crushed and compacted gravel topped with asphalt is still common. The City of Montreal usually specifies 20 centimetres of concrete under the asphalt. Some highways and airport runways use up to 50 cm of concrete with no asphalt — giving a boost to strength and possibly longevity. Water is the great destroyer of building materials: it corrodes metals, rots wood and weakens concrete. The Romans understood the danger of water acting on their handiwork: They built watertight roads with a cambered surface for water run-off. In our climate, when water penetrates the rigid sponge that is concrete, it expands as it freezes, tearing apart the concrete after repeated freeze-thaw cycles. Then there's potable water. For 'home delivery' of water, Romans used pipes made of lead — plumbum, whence the word 'plumber.' Don't mock the Romans for poisoning themselves: One-third of U.S. cities still have lead in their water service lines, as does Montreal. One more reason why our roadways need to get deconstructed. Along with water pipes, Montreal buries utilities such as gas, power and telecom trunk lines underneath concrete roads and sidewalks, requiring jackhammers or diamond-bladed saws to get at them whenever inaccessible via manholes. Any such cuts in the road surface by Énergir, Hydro-Québec and Bell Canada can ruin a road's watertightness, shortening its life. But how do other northern cities manage to have decent roads and we don't? Chronic underinvestment aside, the underlying cause is probably the sort of contractor building our roads. Even if we delude ourselves that the widespread corruption uncovered by the 2011-2015 Charbonneau commission of inquiry into the Montreal construction industry is now behind us, today's crumbling road infrastructure is a poisoned legacy, a product of 50 years of bid-rigging, dodgy engineering firms and complicit bureaucrats or politicians. When contractors cheat on price, they cheat on quality. We have to attract a new class of skilled road contractors and shift the obligation to perform onto them. One way is to have the contractor design, build and then maintain the road in good condition at their cost for (say) 30 years. Contractors would have an inescapable incentive to build well and durably. (If ever they go under, their performance bond kicks in.) While the design-build-maintain method falls under the general category of Public Private Partnerships (PPP), using it for street construction offers minimal snares. While not everyone would declare the PPP that created the MUHC Glen complex was an unalloyed success, using PPP for building streets is a far cry from building and maintaining a hospital. The cause and effect of pavement failures are relatively evident. Repeated contracts for self-destructing roads constitute a gift that keeps on giving. It's time to end this generosity.
Globe and Mail
16-05-2025
- Business
- Globe and Mail
Énergir Announces a Private Placement of $300 Million Series 2025-1 First Mortgage Bonds
MONTRÉAL, May 15, 2025 (GLOBE NEWSWIRE) -- Énergir Inc. and Énergir, L.P. announce today a private placement by Énergir, L.P. of $300 million aggregate principal amount of Series 2025-1 First Mortgage Bonds (the 'Series 2025-1 Bonds'). The Series 2025-1 Bonds will be secured by a hypothec on the assets of Énergir, L.P. The Series 2025-1 Bonds, bearing interest at the rate of 4.65% per annum, are expected to be dated May 20, 2025 and to mature on May 20, 2055 and would be issued at a price of $998.87 per $1,000 principal amount. The Series 2025-1 Bonds have been assigned a provisional rating of A by Standard & Poor's and a provisional rating of A by DBRS Limited. Closing of the offering of the Series 2025-1 Bonds is expected to occur on May 20, 2025, subject to customary closing conditions. Énergir, L.P. intends to use the proceeds to repay existing indebtedness and for general corporate purposes. The Series 2025-1 Bonds are offered on an agency basis through a syndicate of dealers led by BMO Nesbitt Burns Inc., Scotia Capital Inc. and TD Securities Inc., as joint bookrunners and co-lead private placement agents, together with CIBC World Markets Inc., Desjardins Securities Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Merrill Lynch Canada Inc., Mizuho Securities Canada Inc. and Casgrain & Company Limited, as agents. The Series 2025-1 Bonds have not been and will not be qualified for distribution to the public under applicable Canadian securities laws and, accordingly, any offer or sale of the Series 2025-1 Bonds in Canada is being made on a basis which is exempt from the prospectus requirements of such securities laws. The Series 2025-1 Bonds have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') or any state securities laws and may not be offered, sold or delivered in the United States of America or its territories or possessions or to U.S. persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to an exemption therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Series 2025-1 Bonds in the United States. About Énergir Inc. and Énergir, L.P. Énergir Inc. mainly holds a 71% interest in Énergir, L.P., for which it acts as the General Partner. With more than $11 billion in assets, Énergir, L.P. is a diversified energy business whose mission is to meet the energy needs of approximately 540,000 customers and the communities it serves in Quebec and Vermont in an increasingly sustainable way. Énergir, L.P. is the largest natural gas distribution company in Quebec, where, through its joint ventures, it also generates electricity from wind power. And through its subsidiaries and other investments, Énergir, L.P. has a presence in the United States, where it generates electricity from hydraulic, wind and solar sources; it is also the largest electricity distributor and the sole pipeline natural gas distributor in the State of Vermont. Énergir, L.P. values energy efficiency and invests its resources and continues its efforts in innovative energy projects, such as renewable natural gas and liquefied and compressed natural gas. Through its subsidiaries, it also provides a variety of energy services. Énergir, L.P. strives to become the partner of choice for those seeking a better energy future. Forward-Looking Statements This news release contains forward-looking statements, including, but not limited to, statements relating to the expected timing completion and use of proceeds of the proposed sale of Series 2025-1 Bonds and other statements that are not historical facts. Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from expectations expressed in or implied by such forward-looking statements. The forward-looking statements contained in this news release are as at the date of this news release and, Énergir Inc. and Énergir, L.P. assume no obligation to update or revise any forward-looking statements to reflect new events or circumstances except as required by applicable securities laws. Forward-looking statements are provided herein for the purpose of giving information about the proposed private placement referred to above. Readers are cautioned that such information may not be appropriate for other purposes. The timing and completion of the abovementioned proposed sale of the Series 2025-1 Bonds is subject to customary closing terms and other risks and uncertainties. Accordingly, there can be no assurance that the proposed sale of the Series 2025-1 Bonds will occur, or that it will occur at the expected time indicated in this news release.
Yahoo
16-05-2025
- Business
- Yahoo
Énergir Announces a Private Placement of $300 Million Series 2025-1 First Mortgage Bonds
MONTRÉAL, May 15, 2025 (GLOBE NEWSWIRE) -- Énergir Inc. and Énergir, L.P. announce today a private placement by Énergir, L.P. of $300 million aggregate principal amount of Series 2025-1 First Mortgage Bonds (the 'Series 2025-1 Bonds'). The Series 2025-1 Bonds will be secured by a hypothec on the assets of Énergir, L.P. The Series 2025-1 Bonds, bearing interest at the rate of 4.65% per annum, are expected to be dated May 20, 2025 and to mature on May 20, 2055 and would be issued at a price of $998.87 per $1,000 principal amount. The Series 2025-1 Bonds have been assigned a provisional rating of A by Standard & Poor's and a provisional rating of A by DBRS Limited. Closing of the offering of the Series 2025-1 Bonds is expected to occur on May 20, 2025, subject to customary closing conditions. Énergir, L.P. intends to use the proceeds to repay existing indebtedness and for general corporate purposes. The Series 2025-1 Bonds are offered on an agency basis through a syndicate of dealers led by BMO Nesbitt Burns Inc., Scotia Capital Inc. and TD Securities Inc., as joint bookrunners and co-lead private placement agents, together with CIBC World Markets Inc., Desjardins Securities Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Merrill Lynch Canada Inc., Mizuho Securities Canada Inc. and Casgrain & Company Limited, as agents. The Series 2025-1 Bonds have not been and will not be qualified for distribution to the public under applicable Canadian securities laws and, accordingly, any offer or sale of the Series 2025-1 Bonds in Canada is being made on a basis which is exempt from the prospectus requirements of such securities laws. The Series 2025-1 Bonds have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') or any state securities laws and may not be offered, sold or delivered in the United States of America or its territories or possessions or to U.S. persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to an exemption therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Series 2025-1 Bonds in the United States. About Énergir Inc. and Énergir, L.P. Énergir Inc. mainly holds a 71% interest in Énergir, L.P., for which it acts as the General Partner. With more than $11 billion in assets, Énergir, L.P. is a diversified energy business whose mission is to meet the energy needs of approximately 540,000 customers and the communities it serves in Quebec and Vermont in an increasingly sustainable way. Énergir, L.P. is the largest natural gas distribution company in Quebec, where, through its joint ventures, it also generates electricity from wind power. And through its subsidiaries and other investments, Énergir, L.P. has a presence in the United States, where it generates electricity from hydraulic, wind and solar sources; it is also the largest electricity distributor and the sole pipeline natural gas distributor in the State of Vermont. Énergir, L.P. values energy efficiency and invests its resources and continues its efforts in innovative energy projects, such as renewable natural gas and liquefied and compressed natural gas. Through its subsidiaries, it also provides a variety of energy services. Énergir, L.P. strives to become the partner of choice for those seeking a better energy future. Forward-Looking Statements This news release contains forward-looking statements, including, but not limited to, statements relating to the expected timing completion and use of proceeds of the proposed sale of Series 2025-1 Bonds and other statements that are not historical facts. Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from expectations expressed in or implied by such forward-looking statements. The forward-looking statements contained in this news release are as at the date of this news release and, Énergir Inc. and Énergir, L.P. assume no obligation to update or revise any forward-looking statements to reflect new events or circumstances except as required by applicable securities laws. Forward-looking statements are provided herein for the purpose of giving information about the proposed private placement referred to above. Readers are cautioned that such information may not be appropriate for other purposes. The timing and completion of the abovementioned proposed sale of the Series 2025-1 Bonds is subject to customary closing terms and other risks and uncertainties. Accordingly, there can be no assurance that the proposed sale of the Series 2025-1 Bonds will occur, or that it will occur at the expected time indicated in this news release. For more information:MediaCatherine HoudeÉnergir, L.P.1-866-598-3449communications@ Investor RelationsGabrielle RicardÉnergir, Error 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
Yahoo
16-05-2025
- Business
- Yahoo
Énergir Announces a Private Placement of $300 Million Series 2025-1 First Mortgage Bonds
MONTRÉAL, May 15, 2025 (GLOBE NEWSWIRE) -- Énergir Inc. and Énergir, L.P. announce today a private placement by Énergir, L.P. of $300 million aggregate principal amount of Series 2025-1 First Mortgage Bonds (the 'Series 2025-1 Bonds'). The Series 2025-1 Bonds will be secured by a hypothec on the assets of Énergir, L.P. The Series 2025-1 Bonds, bearing interest at the rate of 4.65% per annum, are expected to be dated May 20, 2025 and to mature on May 20, 2055 and would be issued at a price of $998.87 per $1,000 principal amount. The Series 2025-1 Bonds have been assigned a provisional rating of A by Standard & Poor's and a provisional rating of A by DBRS Limited. Closing of the offering of the Series 2025-1 Bonds is expected to occur on May 20, 2025, subject to customary closing conditions. Énergir, L.P. intends to use the proceeds to repay existing indebtedness and for general corporate purposes. The Series 2025-1 Bonds are offered on an agency basis through a syndicate of dealers led by BMO Nesbitt Burns Inc., Scotia Capital Inc. and TD Securities Inc., as joint bookrunners and co-lead private placement agents, together with CIBC World Markets Inc., Desjardins Securities Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Merrill Lynch Canada Inc., Mizuho Securities Canada Inc. and Casgrain & Company Limited, as agents. The Series 2025-1 Bonds have not been and will not be qualified for distribution to the public under applicable Canadian securities laws and, accordingly, any offer or sale of the Series 2025-1 Bonds in Canada is being made on a basis which is exempt from the prospectus requirements of such securities laws. The Series 2025-1 Bonds have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') or any state securities laws and may not be offered, sold or delivered in the United States of America or its territories or possessions or to U.S. persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to an exemption therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Series 2025-1 Bonds in the United States. About Énergir Inc. and Énergir, L.P. Énergir Inc. mainly holds a 71% interest in Énergir, L.P., for which it acts as the General Partner. With more than $11 billion in assets, Énergir, L.P. is a diversified energy business whose mission is to meet the energy needs of approximately 540,000 customers and the communities it serves in Quebec and Vermont in an increasingly sustainable way. Énergir, L.P. is the largest natural gas distribution company in Quebec, where, through its joint ventures, it also generates electricity from wind power. And through its subsidiaries and other investments, Énergir, L.P. has a presence in the United States, where it generates electricity from hydraulic, wind and solar sources; it is also the largest electricity distributor and the sole pipeline natural gas distributor in the State of Vermont. Énergir, L.P. values energy efficiency and invests its resources and continues its efforts in innovative energy projects, such as renewable natural gas and liquefied and compressed natural gas. Through its subsidiaries, it also provides a variety of energy services. Énergir, L.P. strives to become the partner of choice for those seeking a better energy future. Forward-Looking Statements This news release contains forward-looking statements, including, but not limited to, statements relating to the expected timing completion and use of proceeds of the proposed sale of Series 2025-1 Bonds and other statements that are not historical facts. Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from expectations expressed in or implied by such forward-looking statements. The forward-looking statements contained in this news release are as at the date of this news release and, Énergir Inc. and Énergir, L.P. assume no obligation to update or revise any forward-looking statements to reflect new events or circumstances except as required by applicable securities laws. Forward-looking statements are provided herein for the purpose of giving information about the proposed private placement referred to above. Readers are cautioned that such information may not be appropriate for other purposes. The timing and completion of the abovementioned proposed sale of the Series 2025-1 Bonds is subject to customary closing terms and other risks and uncertainties. Accordingly, there can be no assurance that the proposed sale of the Series 2025-1 Bonds will occur, or that it will occur at the expected time indicated in this news release. For more information:MediaCatherine HoudeÉnergir, L.P.1-866-598-3449communications@ Investor RelationsGabrielle RicardÉnergir, Sign in to access your portfolio
Globe and Mail
15-05-2025
- Business
- Globe and Mail
La Société de projet BVH1, s.e.n.c. Announces a $960 Million Financing for Des Neiges – Secteur sud Wind Project
LA CÔTE-DE-BEAUPRÉ, Quebec, May 15, 2025 (GLOBE NEWSWIRE) -- La Société de projet BVH1, s.e.n.c., consisting of affiliates of each of Boralex Inc, Énergir Développement Inc and Hydro-Québec, is proud to announce having put in place a $960 million financing for the 400 MW Des Neiges - Secteur sud wind power project, currently under construction on the private lands of Seigneurie de Beaupré. This project has the potential to be a major boost to Côte-de-Beaupré's economic development and to contribute to Québec's economic and climate resilience. It represents an investment of around $1 billion, and is projected to employ a total of around 500 people during the construction phase, in addition to creating some fifteen jobs during the operation and maintenance phases. Additionally, more than $80 million is expected to be distributed among the host communities, exclusively for the Secteur sud project. 'I would like to salute the outstanding collaboration with our partners Énergir and Hydro-Québec in the realization of this vital project for Québec,' said Hugues Girardin, Executive Vice President and General Manager, North America, Boralex. 'We've been fortunate enough to successfully develop and operate wind farms on the Seigneurie de Beaupré for nearly 15 years. It's the strength of this partnership that will enable us to bring the Des Neiges - Secteur sud project to fruition, thereby contributing to the province's energy independence and sustainable economic growth.' 'The financing of the Des Neiges - Secteur sud wind power project is a testament to Energir's commitment to diversifying our energy portfolio,' said Jean-François Jaimes, Executive Director of Renewable Energy & LNG Development, Énergir. "This project, driven by a collaboration between Quebec players, illustrates our shared desire to develop renewable energy solutions to meet the needs of our communities. We are proud to be part of it, and grateful to our partners, whose trust has enabled us to move forward." 'Hydro-Québec is pleased to announce alongside its partners this important milestone in the development of the Seigneurie de Beaupré wind farms,' said Mathieu Johnson, Senior Vice President, Wind Power, R&D and Energy Trading. 'We are moving forward with our ambition to reach an additional 10,000 MW of wind power capacity by 2035, helping to secure a clean and prosperous energy future for Québec.' Financial Highlights The Des Neiges – Secteur sud project financing includes: A $733 million construction loan, which will convert to a term loan following the start of deliveries of electricity, scheduled for the fourth quarter of 2026; A $170 million bridge loan, allowing the financing of the refund to be received for the switchyard. This short-term facility will reduce the amount of equity capital allocated to the project in the short term and thus optimizing the overall capital structure required for the project. A $57 million guarantees facility. The Desjardins Group serves as Administrative Agent for this financing. Next Steps The general contractor, Borea Construction, has been mobilized on site for preliminary work since December 2024. Borea will then collaborate with Québec companies and suppliers for the bulk of the site work, which is scheduled to begin more formally in the coming months. Once operational, the project's 57 wind turbines are expected to generate 1.2 TWh per year, equivalent to the energy consumed annually by around 70,000 homes or 325,000 electric vehicles on Québec roads. The Des Neiges - Secteur sud wind project is the first of three potential 400 MW wind power projects on Seigneurie de Beaupré private lands. Caution Regarding Forward-Looking Statements Some of the statements contained in this press release, including, without limitation, those regarding the economic impact of the project and monetary contributions proposed to host communities, the employment opportunities to be created by the project, the start date of site work and electricity deliveries, and the amount of power to be delivered by the project, 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 Boralex, 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 La Société de projet BVH1, s.e.n.c. Société de projet BVH1, s.e.n.c. is a corporation created jointly by Boralex Inc. Énergir Développement Inc. and Hydro-Québec, through affiliated companies, for the development and operation of the Des Neiges - Secteur sud wind power project. The project will be located entirely on Seigneurie de Beaupré land, on the unorganized Lac-Jacques-Cartier territory in the La Côte-de-Beaupré RCM, and will have a total capacity of 400 MW. For more information
