Resolute purchases Quebec cogen facility
February 14, 2022 By Resolute Forest Products
Resolute Forest Products Inc. today announced an agreement signed on February 11 with Boralex for the purchase of a cogeneration facility in Senneterre, Que.
“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,” said Remi G. Lalonde, president and chief executive officer of Resolute.
The acquisition is subject to regulatory approvals and certain closing conditions and expected to close in the first half of 2022.
Resolute intends to pay for the purchase with cash on hand.
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