Montreal-based company Boralex announced the acquisition of a 350-MW wind energy project in northern France that will help reinforce its presence overseas.
This acquisition, combined with wind projects already under development, will bring Boralex’s portfolio of development in France to nearly 850 MW.
Boralex plans to acquire the following projects by 2018:
- 79 MW of ready-to-build projects (with commissioning dates scheduled during 2017 and 2018),
- 159 MW of projects at an advanced stage of development, and
- 118 MW of projects at preliminary stages of development.
These projects, which are set to be commissioned over the next few years, will add to the 500 MW currently operated by Boralex in France.
“With this transaction, our position as France’s leading independent producer will be strengthened while confirming the French market as the cornerstone of our growth in the coming years,” stated President and CEO Patrick Lemaire.
The ready-to-build projects will require investments of about €150 million (CAN$ 225 million) and will benefit from the regulatory rate, including the projects at an advanced stage of development.
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