Boralex Announces a Temporary Shutdown of its Stratton Power Station
Montréal, April 16, 2002 – Boralex Inc. (the “Corporation”) announces that its 50 MW woodresidue thermal power station located in Stratton, in Maine, will be shutdown until the end of April, to allow for the build up of its wood residue inventory to ensure the plant’s normal operations for the remainder of the year, a period when power prices are at their peak. This shutdown is in part due to long delays in obtaining permits from the State of Maine to burn alternative fuels, which have now been received, and occurs after the scheduled regular preventive maintenance shutdown at the beginning of April, a month when power prices are at their lowest level for the year. This unscheduled shutdown will reduce the Corporation’s earnings per share by approximately $ 0.015 per share for the third quarter of 2002.

Boralex operates 11 power stations from biomass, natural gas and hydroelectricity in Quebec, the United States and in France. Also, Boralex Power Income Fund, which is managed by Boralex and in which Boralex holds an important position, operates eight power stations in Quebec from the same sources of fuel. Together these two entities have more than 225 employees and have a total installed capacity of 350 MW. Boralex’s stock trades on the Toronto Stock Exchange under the ticker symbol BLX.A and Boralex Power Income Fund’ stock trades under the ticker symbol BPT.UN.

- 30 -

For further information, please contact:
Jean Roy
Manager, Wood-Residue Thermal and
Cogeneration Division
Boralex Inc.
Telephone : (514) 985-1341
Fax: (514) 284-9895
E-mail: jean_roy@cascades.com

Mr. Germain Lecours
Vice-President and Chief Financial Officer
Boralex Inc.
Telephone: (514) 985-1348
Fax: (514) 284-9895
E-mail: glecours@cascades.com