Boralex has secured a €100m financing package to complete construction of a trio of wind farms in France totalling over 55MW.
The Canadian outfit has tapped Crédit Industriel et Commercial and BPI France Financement for the cash which is based on a debt to equity ratio of 80%.
The funds will be used to build out the 24MW Mont de Bagny, 23.1MW Artois and 10MW Voie des Monts wind farms.
All three sites are already in construction and are expected to be commissioned in 2017.
The financing deal includes €11.2 million in financing for value added tax receivable, a 10-year €52.4m tranche at a fixed rate of 0.8% and a 15-year €37m tranche at a variable rate of about 2.5%.
Image: Boralex
