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Boralex signs exclusivity deal to buy 350MW of wind power projects in France

CTBR Staff Writer Published 17 December 2015

Canadian power company Boralex has signed an exclusivity agreement to acquire wind power projects totaling 350MW in France from private developers.

The transaction includes 79MW of ready-to-build projects, which are expected to enter service between 2017 and 2018.

It also includes 159MW of projects under advanced stage of development; and 118MW of projects at preliminary stages of development.

Investments of around €150m will be needed for the ready-to-build projects, which will benefit from the regulatory rate, including the projects that are under advanced stage of development.

Boralex president and CEO Patrick Lemaire said: "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."

The deal will bring Boralex's portfolio of development projects in France to around 850MW. Boralex currently operates 500MW of projects in the country.

This transaction will be completed upon receiving related documentation and is subject to customary conditions.

Boralex recently commissioned the 24MW Frampton wind power project in Beauce, Canada.

Around $80m was invested on the construction of the wind farm, which employs 12 Enercon E-82 wind turbines.

The clean electricity generated at theFrampton project will be sold to Hydro-Québec, under a 20-year contract.