Two of the acquired wind farms are now being built: the 30MW wind site in Plateau de Ronchois (Enercon wind turbines), in the Picardie and Normandie regions; and the 10MW wind site at Grand Camp (Enercon wind turbines) in the centre region. The third wind farm, the 7MW Bel Air site (Nordex turbines), which has been in operation since December 2006, is in Brittany.
Patrick Lemaire, president and CEO of Boralex, said: “This acquisition again demonstrates Boralex’s ability to take advantage of opportunities as they arise in the French market. It also gives us an opportunity to leverage our partnership with Cube. Boralex is a key player in the French wind power market.”
The total investment for this transaction amounts to approximately CAD115m (EUR73m). The financing obtained will account for close to 78% of the total investment for the two facilities under construction and gives Boralex access to funds for 15 years, at an average interest rate of about 5.5%.
Moreover, the equity contribution came from the participation and the capital injected by Cube. The Bel Air wind farm is already financed by a French bank.
The company said that once these facilities are built, the wind power segment will total over 210MW in the Boralex portfolio.
