Jan. 26, 2011 (Canada NewsWire Group) --
MONTREAL, Jan. 26 /CNW Telbec/ - Boralex inc. ("Boralex" or the "Corporation") announces receipt of 784,826 shares of AbitibiBowater worth close to $23 M according to the stock price at the close of the TSX yesterday.
This compensation is payable following a partial settlement of a claim of about $ 83 million as negotiated under the AbitibiBowater c-36. Once all third-parties claims filed against AbitibiBowater have been resolved by the courts, Boralex may receive additional distributions in shares.
Over the next few weeks Boralex will consider alternatives in order to maximize the value of such investment.
Boralex 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 46 power stations with a total installed capacity of 700 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 almost 300 MW of power. Boralex is distinguished by its diversified expertise and in-depth experience in three power generation segments - wind, hydroelectric and thermal. Boralex shares and convertible debentures are listed on the Toronto Stock Exchange under the ticker symbol BLX. More information is available at www.boralex.com or www.sedar.com.
Ms. Patricia Lemaire
Director, Publics Affairs and Communications