Canadian developer Boralex has agreed an exclusivity agreement with private developers to purchase nearly 350MW of wind projects in France.
The closing of the deal would, by 2018, allow Boralex to acquire 79MW of ready-to-build projects with commissioning dates scheduled during 2017 and 2018, 159MW of projects that are at an advanced stage of development and 118 MW of projects at preliminary stages of development.
“With this transaction, our position as France’s leading independent producer will be strengthened while confirming the French market as the cornerstone of our growth in the coming years,” stated President and Chief Executive Officer Patrick Lemaire.
The acquisitions, along with projects currently under development will take Boralex’s French wind portfolio to a capacity of almost 850MW.
Boralex will continue talks with the current project owners during the exclusivity period with the aim of signing a purchase agreement as soon as possible.
The ready-to-build projects will require investments of about €150 million and will benefit from the regulatory rate, including the projects at an advanced stage of development.