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Competitive Generator Pivots To Begin "Directly" Supplying End-Use Customers Under New Strategic Plan

June 17, 2021

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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

The following story is brought free of charge to readers by EC Infosystems, the exclusive EDI provider of EnergyChoiceMatters.com

As part of an updated strategic plan and new corporate objectives for 2025, Boralex Inc. announced that it would, "[d]evelop and expand our existing customer base to directly supply electricity-consuming industries interested in reducing their carbon footprint."

The U.S. will be a focus for this new strategy of "directly" supplying customers. In a recent annual report, Boralex cited two recent PPAs with large end-use customers in France as a significant step in deploying this part of its strategic plan, "for which the sale of green energy to companies is a major pillar."

In its recent annual report, Boralex had said, "Changes are also expected with the development of tendering procedures and negotiating energy sales contracts directly with electricity-consuming companies."

"The Corporation has deployed sales teams in France and the United States to serve a wider customer base. The main objective is to sign energy sales contracts directly with electricity-consuming commercial or industrial companies (corporate PPA), as well as the gradual addition of complementary services offered to energy transmission networks and large-scale electricity consumers," Boralex said in the recent annual report

Other highlights of Boralex's new strategic plan include:

• Significantly increase the share of solar power in the asset and project portfolio and make a breakthrough in storage

• Position the United States as its primary market for development, and diversify its geographic presence in Europe and other U.S. states

• Optimize capital structure with a greater share of corporate financing, including sustainable financing

Boralex announced its goal to double the installed capacity under management from 2.2 GW at the end of 2020 to 4.4 GW by 2025 and reach 10–12 GW by 2030

Concerning growth, Boralex's strategic plan calls for the following:

• Accelerate organic growth to maximize future value creation across our markets

• Make the United States our priority market and extend our European presence by targeting a few additional growth markets

• Complement organic growth with targeted acquisitions

Boralex said that it will also, "accelerate the development of our power marketing skills to optimize our contract portfolio."

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