French high-five for Boralex
Funding secured for wind farms totalling 112MW in European country
Boralex has secured €136m in financing for five wind farms in France totalling 112MW.
Crédit Industriel et Commercial, Auxifip, Caisse Régionale de Crédit Agricole Mutuel Nord de France and BPI France Financement will provide the money on a 80:20 debt/equity ratio.
The projects are the 33MW Inter Deux Bos, 26MW Côteaux du Blaiseron, 23MW Sources de l’Ancre, 20MW Hauts de Comble and 10MW Le Pelon wind farms.
Construction of the projects is either underway or will start in the coming months, with commissioning scheduled from the end of 2018 through to 2019.
The finance consists of a 15-year €108.8m fixed-rate tranche and a 15-year €27.2m variable-rate tranche.
Short-term funding of €20.4m has also been provided to meet temporary requirements related to French value-added tax.