Boralex Moves into Wind Energy in France

The Canadian company Boralex Inc has signed an agreement with the French wind power company, Seris S.A., to set up a joint venture for the construction and operation of a 10.4 MW wind power facility in Avignonet-Lauragais, in the south of France.

MONTREAL, Quebec, CA, 2001-12-13 [] Boralex S.A. will retain a 60 percent interest in the joint venture to complete the wind farm project at a cost of FF60 million (C$12 million) with debt financing from a consortium of European banks which specialize in the financing of wind power. Construction of the windfarm will begin this year with anticipated start up next summer. Once completed, Boralex will have three power stations in France with a total installed capacity of 23 MW. It already has interests in a 1 MW hydroelectric power station in La Rochette, in Savoie, and a 14 MW natural gas cogeneration station in Blendecques, Pas-de-Calais. Boralex operates 16 generating stations in Canada and the U.S., as well as France, producing energy from wood residue or natural gas thermal and cogen facilities, as well as hydroelectric power stations.
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