Will probably be essential to put money into electrical transportation, warns the pinnacle of Boralex

(Montreal) Electrical energy should be produced, however the power transition may also require big investments within the transmission grid, warns Boralex President and CEO Patrick DeCoster.

That is the problem for all Western governments, believes the chief of the Quebec power producer who has actions in Canada, the US, France and the UK.

“There are limits [à la capacité de réseau]He made it clear throughout a convention name on Friday to debate fourth-quarter outcomes. Governments should make investments some huge cash. After I say huge cash, it’s most likely within the billions, however that’s the one solution to obtain the power transition. »

In response to a query from an analyst, Mr. DeCoster recognized community saturation as the primary problem in planning medium-term tasks. He mentioned that the duty to resolve this drawback doesn’t lie with the power producers. “Don’t depend on Boralex. Our function is to seek out locations the place tasks can join or discover a place the place we will take the steps to get the capability wanted to attach in 2027-2028. »

Quebec may also have to enhance the capability of the Hydro-Quebec grid whereas Crown estimates it is going to take 100 TWh of latest clear electrical energy provides to decarbonize Quebec by 2050.

Lately, the federal government legault a permissive à la society d’État de repousser de quelques mois un appel d’offres d’energie éolienne of 2300 megawatts (MW) afin de donner la priorité aux endroits où les tasks peuvent être connectés au réseau extra shortly. Some websites required extra time to construct the infrastructure wanted for the electrical transmission community.

advance deadlines

Regardless of the problem of community congestion within the medium time period, Boralex has managed to extend its tasks. The corporate has 5,524 MW of tasks beneath improvement or beneath development around the globe. This can be a 35% enhance over final 12 months.

Boralex has efficiently pushed the schedule for some tasks within the context of labor shortages and inflationary strain, confirms analyst Brent Stadler of Desjardins Capital Markets. On this difficult atmosphere, Boralex has as soon as once more exceeded expectations with an replace on these tasks in improvement. »

The analyst factors out that the corporate has superior to 2024, which is the deliberate time for operation, equal to 150 megawatts. We anticipated 195 MW to be operational in 2024, and this quantity has been raised to 345 MW, a rise of 150 MW. »


Within the fourth quarter, Boralex introduced a internet lack of 7 million in comparison with a revenue of 20 million for a similar interval final 12 months. Income on their facet rose 68% to 322 million.

The corporate generated 1,619 GWh of electrical energy, a rise of 9%. Manufacturing is 2% beneath administration’s forecast. Wind era was shut to focus on, however hydro and photo voltaic era have been 12% and three% decrease, respectively.

Analyst Nelson Ng of RBC Capital Markets mentioned the corporate’s fourth quarter met expectations. He notes that outcomes are higher than anticipated for the photo voltaic and wind power sector, however hydropower and firm prices are barely decrease than his expectations.

Boralex shares misplaced 90 cents, or 2.54%, to $34.90 on the Toronto Inventory Alternate within the afternoon.