Boralex Obtains Better Rate for Four Wind Farms in Ontario Through New Advanced RESOP Program

Boralex Obtains Better Rate for Four Wind Farms in Ontario Through New
Advanced RESOP Program

MONTREAL, Oct. 21 /PRNewswire-FirstCall/ - Boralex Inc. ("Boralex" or the
"Corporation") announces that it has obtained a better wind power rate for its
projects that qualify under the Renewable Energy Standard Offer Program
(RESOP), thanks to new Ontario rules to promote renewable energy.
The first four Boralex wind farms at the Thames River site in southern
Ontario, now in its final construction phase, will benefit from a rate of $121
per MWh instead of the $110 per MWh currently offered under the RESOP program.
The new rules also allow Boralex to recover 100% of the funding under the
federal ecoEnergy program, which represents an additional $10 per MWh instead
of $5 (or 50% of the eligible amount), as set out in the original program.
This change will impact the total annual revenues of approximately $1.7
million. The wind power facilities are scheduled to start up in the next few
weeks.
Furthermore, under Advanced RESOP rules, the Corporation will be able to
qualify five other projects with an installed capacity of an additional 50 MW,
under the same conditions, subject to start-up before December 31, 2010.
"These 20-year contracts awarded by Ontario Power Authority give Boralex
excellent future prospects in Ontario," says Patrick Lemaire, President and
Chief Executive Officer of Boralex Inc.

About Boralex

Boralex is a major private electricity producer whose core business is the
development and operation of power stations that generate renewable energy.
Employing over 300 people, the Corporation owns and operates 22 power stations
with a total installed capacity of 365 MW in Canada, in the Northeastern
United States and in France. In addition, the Corporation has more than 300 MW
of power projects under development. Boralex is distinguished by its
diversified expertise and in-depth experience in three power generation
segments - wind, hydroelectric and thermal. Boralex shares are listed on the
Toronto Stock Exchange under the ticker symbol BLX.
Boralex also holds a 23% interest in Boralex Power Income Fund, which has 10
power stations with a total installed capacity of 190 MW in Quebec and the
United States. These sites are managed by Boralex.
More information is available at www.boralex.com or www.sedar.com.

Certain statements in this release, including those 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 on market and industry, increases in raw material costs, changes in
the relative values of certain currencies, fluctuations in selling prices, and
other factors listed in the Company's filings with different securities
commissions.
The summarized financial statements included in this press release also
contain certain financial measurements that are not recognized as Generally
Accepted Accounting Principles of Canada (GAAP). To assess the operating
performance of its assets and reporting segments, the Corporation uses
Earnings before interest, taxes, depreciation and amortization (EBITDA) and
Cash flows from operations as performance measurements. These measures are not
in accordance with GAAP and do not have a standardized definition prescribed
by GAAP. Therefore, they may not be comparable to similar measures presented
by other companies. EBITDA is defined in the summarized financial statements
included with this press release. Cash flows from operations corresponds to
cash flows from operating activities before changes in non-cash working
capital items as disclosed in the consolidated statements of cash flows
attached in this press release.
SOURCE BORALEX INC.

Ms. Sophie Paquet, Communications Advisor, Boralex Inc., (514) 985-1353,
sophie.paquet@boralex.com