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Boralex Inc
Symbol BLX
Shares Issued 102,766,104
Close 2023-06-30 C$ 36.07
Market Cap C$ 3,706,773,371
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Boralex appoints Stefanov as senior VP

2023-07-04 01:53 ET - News Release

Mr. Patrick Decostre reports

BORALEX ANNOUNCES THE APPOINTMENT OF MIHAELA STEFANOV AS SENIOR VICE PRESIDENT, ENTERPRISE RISK MANAGEMENT AND CORPORATE SOCIAL RESPONSIBILITY

Boralex Inc. has appointed Mihaela Stefanov as senior vice-president, enterprise risk management and corporate social responsibility (CSR). With this new role, Ms. Stefanov joins the Boralex executive committee, effective immediately.

"Since joining Boralex, Mihaela's strong and inspiring leadership has put corporate social responsibility at the heart of our decision-making processes, creating a reflex both among senior executives across the company and within the board of directors," said Patrick Decostre, president and chief executive officer of Boralex. "I welcome her to the executive committee, and look forward to continuing the work and transformations begun over two years ago."

"It's a privilege for me to join a management team that sees CSR and, more broadly, integrated risk management as levers for growth and success," said Ms. Stefanov. "We have a responsibility to produce energy sustainably for future generations. I will continue to work every day to make this purpose a reality and strengthen our position as a CSR model for our partners."

Ms. Stefanov joined Boralex in April, 2021, as director, corporate social responsibility, before being promoted to vice-president, corporate social responsibility. She orchestrated the development and deployment of the CSR strategy throughout the company, and co-ordinated the various internal and external disclosures in this area. She has 12 years experience in strategy and consulting in sustainable development and social responsibility. Before joining Boralex, she worked in the climate change and sustainable development department at a major consulting firm for 10 years before joining the Boralex team.

CSR, an essential business practice and risk management strategy

The risk management and CSR role was created in the fall of 2022, when Boralex unveiled a new management model to focus on risk exposure monitoring in the changing and increasingly complex energy environment. It demonstrates Boralex's willingness to seize business opportunities with even more confidence and resilience, and will ensure the implementation of the overall CSR strategy that is fundamental to the company and central to the 2025 strategic plan.

Boralex considers social responsibility to be an essential business practice in the context of the climate crisis and the major social issues shaping the times. Since CSR risks are intimately linked to the company's overall risks, bringing CSR and risk management under the same function provides senior management with an overall vision, optimizes resources and the information chain, and enhances resilience across the company.

About Boralex Inc.

At Boralex, it has been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France's largest independent producer of onshore wind power, it also has facilities in the United States and development projects in the United Kingdom. Over the past five years, its installed capacity has more than doubled to over three gigawatts. It is developing a portfolio of over six gigawatts in wind and solar projects and storage projects, guided by its values and its corporate social responsibility approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. As a result of its fearlessness, its discipline, its expertise and its diversity, it continues to be an industry leader. Boralex's shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.

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