MONTRÉAL (News release) -- Boralex Inc. announces an agreement for the sale of the 34.5 MW Senneterre power plant in Quebec, Canada. The power plant has been purchased by Resolute Forest Products Canada Inc.

Remi G. Lalonde, President and CEO of Resolute Forest Products, says: "The purchase of the 34.5-megawatt cogeneration facility, adjacent to our Senneterre sawmill, builds on our significant investments in the region, including the ongoing project toward a new planer and associated equipment we announced last summer, as well as operational improvements recently completed at our Comtois sawmill. With this cogen, we will maximize the use of biomass from our regional operations, generating green power and providing a platform for future growth and enhanced competitiveness in the Abitibi-Témiscamingue region. We are pleased to welcome the 30-plus employees of the cogeneration facility to Resolute."

The acquisitions, subject to regulatory approvals and certain closing conditions, are expected to close in the first half of 2022. Resolute intends to pay for the purchase with cash on hand.