KINGSEY FALLS, QUE. -- Boralex has submitted its bid for an 800-megawatt (MW) solar power contract in New York State, the company confirmed Friday.
The renewable energy producer submitted its bid in late August to the New York State Energy Research and Development Authority.
It should receive an answer within the next few months, the company noted on the sidelines of its third-quarter earnings statement.
Management had confirmed it was preparing a bid at its previous earnings call in August.
"It's a huge offer and we're looking forward to the results," said Bill Cabel with Desjardins Capital Markets.
The U.S. government wants renewable energy to account for 70 per cent of its energy consumption by 2030 and Boralex isn't the only Quebec company eyeing major contracts.
In September, Hydro-Québec announced a 25-year contract with the State of New York.
Starting in 2025, the public utility company will supply nearly 10.4 terawatt-hours of electricity to the state, which is equivalent to the electricity consumption of one million homes.
In October, Innergex and Hydro-Québec also jointly acquired two hydroelectric facilities in New York City.
-- This report by The Canadian Press was first published in French on Nov. 12, 2021.
