Boralex is committed to generating economic value to benefit the communities who welcome its energy production sites, that will last for the full duration of the site’s operation. We work to fill a role as an important regional economic player by sourcing locally for parts, goods and services, by contributing to the maintenance and improvement of local infrastructures, and by engaging with the community through sponsorships and grants programs.
Beyond formal policies, Boralex believes the economic success of its projects depends on the quality of the relationships it fosters with its host communities. In addition, communities are increasingly seeking to invest directly in energy production through regional projects. In Canada, where the granting of energy-generating contracts favours projects developed in partnership with local communities, including First Nations communities, Boralex has drawn on its proactive, respectful partnership-building approach to carry out over 72 MW worth of community projects.
In addition to the capital and operational expenditures connected to its projects, Boralex’s direct economic contribution towards its stakeholders manifests primarily though taxes paid to government agencies and fees paid to communities that house its sites. In France, this remuneration comes through the Territorial Economic Contribution (CET), paid to the senior level of government and via lease payments, and is returned directly to local communities.
For many years, Boralex has demonstrated that not only is it possible to reconcile sustainable development with economic growth, it is essential. To do this, there must be a strong commitment to a long-term vision, clear objectives and the means to attain them, including targeted investments, specialized and varied skill set and most importantly, a driven and dynamic workforce, endowed with an ability to innovate and adapt.
Our success in solidifying our vision of sustainable development rests first and foremost on the sustainability of our company itself. This is why Boralex counts on a high-calibre board of directors to ensure best practices in terms of governance and ethics. Boralex pursues bold yet organized growth strategies supported by rigorous financial and corporate risk management. Over the past few years, its remarkable growth and its ability to fulfill commitments have allowed Boralex to establish a solid reputation in financial circles and with its shareholders, thus fostering future development and the capacity to continually create growing and sustainable value for all of its stakeholders.
For further details, refer to the 2016 Annual Report, and the section on sustainable development.