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Inauguration of the 4.8 MW Biomont cogeneration power plant

On October 16, 2017, Biomont Énergie, a limited partnership created out of a $20 million financial investment between Fondaction, Eolectric and VALECO, announced the completion of the Biomont biogas cogeneration plant located in Montreal.

The 4.8 MW power plant will produce enough electricity to power the equivalent of more than 1,900 homes from the biogas captured by the Saint-Michel Environmental Complex on the site of a former City of Montreal landfill and the Miron quarry. The electricity produced will be sold to Hydro-Québec under the terms of a 25-year contract

The process of decomposition of organic matter in the subsoil can take place over several decades. This process generates a highly combustible hydrocarbon which is called biogas and is composed predominantly of methane (CH4). By recovering and converting this biogas into usable energy for companies or residences in the form of electricity or thermal energy, we produce renewable green energy.

The plant is considered to a cogeneration power plant as it generates two types of energy. Thanks to a recovery system from the heat produced by its three generators with a unit capacity of 1.6 MW, the plant can also supply hot water to the heating systems of the nearby head office buildings of both the Cirque du Soleil and the Tohu. The contribution of the Biomont power plant to the Saint-Michel Environmental Complex landscape fits perfectly with the vision behind the creation of the Frédéric Back park as a tribute to the artist and director to whom we owe recognition for the animated film The Man Who Planted Trees.

The valorization of biogas to generate electricity and heating will result in a reduction of more than 237,000 tonnes of greenhouse gas emissions per year. Indeed, without this process of capture and transformation of the fumes from the natural decomposition of waste, the equivalent of CO2 emissions produced by 50,000 cars would be released into the atmosphere.

"Fondaction is committed to helping to implement a greenhouse gas reduction initiative. This bold project integrates with our vision of sustainable development and allows us to continue our involvement in the fight against climate change. We are proud to partner with them", said Léopold Beaulieu, president and CEO of Fondaction.

"Biomont represents a great environmental, economic and strategic achievement for our company. We would also like to thank our many partners involved throughout the process of revitalizing the power plant without which this project could not have been realised", added Marc-Antoine Renaud, Vice-President of Development of Eolectric.

"VALECO is very proud to have been able to accomplish this first project in Quebec. The plant was able to benefit from the cumulative experience of a unique partnership with Fondaction and Eolectric. The Biomont Énergie plant places even more prominently biomass power generation in the heart of the Island of Montreal while enabling our thermal customers to optimize their carbon footprint reduction. It is a sustainable and socio-economically relevant solution, with a locally sourced and carbon reducing energy. VALECO, as a French group, hopes that this achievement will pave the way for a permanent establishment of its entity in Canada", concluded Érick Gay, President of the VALECO Group.

The plant has restarted its activities in the facilities of the former Gazmont power plant which has been completely renovated. Over a 12-month period, this work allowed for the modernization of the plant, which now benefits from the latest technologies.

About Fondaction

Fondaction invests in Quebec SMEs in order to contribute towards maintaining and creating jobs in Quebec, with a perspective in sustainable development. It manages more than $ 1.7 billion in assets from retirement savings from more than 137,000 shareholders. Through its investments or commitments, either directly or through partner or specialized funds, Fondaction supports the development of more than 1,200 SMEs that contribute with distinction to the economic, social and environmental development of Quebec, including several companies of the social economy.

About Eolectric

Founded in 2001, Eolectric is a developer, owner and operator of renewable energy projects and power generation facilities. The company has developed, financed and managed energy infrastructure projects totaling more than 800 MW allocated mainly through tenders for major electricity suppliers nationally and internationally. Today, it manages more than $ 500 million in assets for investor groups.

About Valeco Énergie Québec

Valeco Énergie Québec is a Quebec subsidiary of the Groupe Valeco, which owns the Group's development assets in Canada. The core business of the company is the production of renewable energy, thanks to its know-how and unique experience in the development, financing, construction, operation and maintenance of renewable energy production plants. As a major player in the French energy sector, Valeco has built 131 wind turbines for more than 280 MW of electrical installations on 15 different sites. In the wake of these projects, Valeco has retained the operation of 14 sites for a total power of 126 MW, as well as 30 photovoltaic power plants (ground and roof) with a total power of more than 80 MW.