MONTREAL, Oct. 2 /PRNewswire-FirstCall/ -- Boralex Power Income Fund (the "Fund") has come to an agreement in principle with AbitibiBowater ("Abitibi") on the temporary operation of the Dolbeau power station, conditional on the agreement of the controller of Abitibi's C-36 and on certain closing conditions. Under the agreement, the Fund would operate its cogeneration plant at Dolbeau-Mistassini from November 15, 2009 to April 15, 2010, and during that period it would produce electricity and the steam required to heat the Abitibi paper mill. In exchange for the steam, Abitibi would provide 75,000 dry tonnes of wood residue to the Fund for the duration of the agreement.
About Boralex Power Income Fund
Boralex Power Income Fund is an unincorporated open-ended trust that indirectly owns ten power generating stations located in the province of Quebec and in the United States producing energy from different sources including wood-residue or natural gas thermal and cogenerating facilities as well as hydroelectric power stations. In total, these power stations have an installed capacity of 190 MW. The Fund's units are listed for trading on the Toronto Stock Exchange under the symbol BPT.UN.
Certain statements in this release, including statements regarding future results and performance, are forward-looking statements based on current expectations. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially from those projected, including, but not limited to, the effect of general economic conditions, decreased demand for the Fund's products, availability of raw materials and increases in their cost, hydrology, fluctuations in currency exchange rates, fluctuations in sales prices and adverse changes in general market and industry conditions. The financial statements included in this press release also contain certain financial measurements that are not recognized as generally accepted accounting principles (GAAP).
The Fund uses EBITDA, among other measures, as a performance measure with respect to its operations. This term is not a defined financial measure according to GAAP of Canada and it does not have a standardized meaning prescribed by GAAP. Therefore, this measure may not be comparable to similar measures presented by other enterprises. EBITDA is defined in the excerpts from the financial statements appended to this press release.
BORALEX POWER INCOME FUND
CONTACT: Ms. Sophie Paquet, Communications Advisor, Boralex Inc., (514)
985-1353, sophie.paquet@boralex.com
