Significant Government Investments in Senneterre Power Station
Boralex Power Income Fund is pleased that its Senneterre, Québec power station project will benefit from significant investments by the federal and provincial governments.
The $6 million project was developed in collaboration with a manufacturer in the Abitibi area and will maximize the utilization of old bark piles. The innovative aspect of the project is that it will make it possible to receive process and handle wood residues while limiting the impact of the severe deterioration and erosion encountered to date.
The new investment will thus partially solve the power station's problems with wood residue supply until the forest industry in the region truly recovers. "It means that we will be able to keep operating the power station in a situation where supplies of fresh bark are extremely limited and the cost of obtaining wood residues is rising," said Patrick Lemaire, President and Chief Executive Officer of Boralex Inc.
"There are still major challenges to be addressed at Senneterre, but the participation from the two levels of government is a step in the right direction," said Mr. Lemaire.