Boralex is exercising an option to sell its interest in the Vents de Dunkerque consortium that is bidding for the right to develop the up to 600MW Dunkirk offshore wind farm off the coast of northern France.
The Canadian developer said that “after a careful review amid changes in tender’s competitive conditions and risk profile, that its interest in the consortium no longer satisfies its investment criteria”.
The option gives Boralex the right to sell its stake to the other partners – Eneco, Van Oord and Diamond Generating Europe.
“Boralex will exercise its option to sell its interest to the other members of the consortium immediately after the tender being definitively awarded and once it is able to in accordance with the terms of the option and in compliance with the tender and French state rules and the agreements governing the consortium,” the company said.
Boralex said it will remain a part of the consortium until the interest is sold and will continue to assist in the project’s development “both as a member of the consortium and thereafter as a non-member”.
It added that the consortium continues to “strongly believe in the prospects and the success” of the bid.
A total of 10 bidders are in the hat to develop the project, with the French government set to announce the winner in the summer.
Meanwhile, Boralex has commissioned the 20MW Basse Thierache Nord wind farm in France.
The project features six Vestas V112 3.3MW turbines and is located in Aisne department of the country.
Electricity generated by the wind farm is being supplied to Electricite de France under a 15-year Contract for Difference.
Basse Thierache Nord raises Boralex’s total installed capacity in France to 941MW and 1962MW globally.