Boralex has completed the acquisition of a 350MW portfolio of wind power projects in northern France.
The Canadian company around 150MW could be commissioned in 2017 and 2018, with 79MW described as “ready to build” and 159MW “at an advanced stage”.
Boralex said the ready-to-build projects will require investments of approximately €150m and an equity contribution of approximately 20% over the next two years.
Construction will start in June next year with around 35MW commissioned in 2017 and the balance in 2018.
“The ready-to-build projects will benefit from the prevailing energy purchase rate in France, as do projects in advanced stages of development. The projects’ financing phase will begin in early 2016,” said Boralex.
The deal will push the company’s French portfolio to nearly 850MW. Boralex was been advised by the law firms K&L Gates LLP and Volta.
Image: Boralex
Boralex expands French footprint
150MW due in next two years from newly-acquired 350MW portfolio
By EBS