Boralex JV plans Scots wind splash
50:50 venture with Infinergy to develop up to 325MW of new projects
Canadian developer Boralex and UK outfit Infinergy have set up a joint venture to develop wind farms in Scotland with a combined capacity of about 325MW.
The 50:50 JV has a pipeline of 10 projects ranging from 6MW to 80MW in size and would allow Boralex to acquire or resell the projects over the coming years.
The wind farms are at different phases of development, from early stage to being on the verge of full authorisation, the partners said.
Boralex and Infinergy will invest £6.6m (€7.4m) in the venture until the end of 2019, of which the Canadian company’s will put in £5.5m.
Boralex president and chief executive Patrick Lemaire said: “With Scotland’s strong political will to support the growth of all its renewable energy sources, we are excited to start working with our new partners Infinergy.
“We share the common objectives to develop, build and operate as many projects as possible over the next five to seven years.”
Infinergy chief executive Esbjörn Wilmar said: “We are very pleased to team up with a new partner who shares our positive outlook on renewable energy in general and the opportunities for onshore wind in Scotland in particular.”
K&L Gates acted as legal advisor for Boralex, while Pinsent Masons was legal advisor and JLL Limited financial advisers for Infinergy.