Boralex has closed the acquisition of Infinergy’s interests in the UK, which includes 338MW of wind, solar and energy storage projects.
The transaction includes Infinergy’s portfolio of projects in development and its 50% interest in a joint venture formed with Boralex in 2017, comprising 232MW owned by the JV and 106MW owned by Infinergy.
It also includes the integration of the Infinergy team’s nine employees based in two offices in the UK into Boralex.
The transaction will enable Boralex to benefit fully from the revenues and optimization initiatives related to the future operation of projects under development and ready for construction, including the Limekiln wind farm.
Boralex chief executive Patrick Decostre said: “This transaction will allow us to accelerate organic growth in a high-potential market in addition to contributing to the geographic diversification of our activities, two key elements of our 2025 Strategic Plan.”
Boralex Europe general manager Nicolas Wolff said: “Building from the fact that Scotland has a very favourable political climate for renewable energy development, we have identified the UK market as a high-potential target for developing onshore wind as well as solar and energy storage facilities.
“We are confident that Boralex can draw on its experience as a wind farm developer and operator to carry on the high-quality work started by the staff at Infinergy, whom I would like to warmly welcome to the Boralex team.”
Infinergy chief executive Esbjorn Wilmar said: “Having worked with Boralex in the UK over the last five years, we are excited to now become full members of the Boralex team.
“Joining forces will further strengthen our combined capabilities to develop, build and operate renewable energy projects in the UK and we are looking forward to bringing our growing portfolio of projects to fruition.
“Next to onshore wind, we will further develop our project portfolio with solar and battery storage developments.”