Boralex To Acquire Wind Farm in France

Boralex Inc. has signed, through its French subsidiary, an acquisition contract to build and operate an 8-megawatt (MW) wind farm in the department of the Somme in France. The total investment is set to be CAN $24 million [US $21.7 million].

Project financing will be subject to the terms and conditions of the master agreement with BNP Paribas and project execution will be subject to standard closing conditions for the project and the master agreement, Boralex said.

The project will consist of four wind turbines, each with a capacity of 2 MW, which could be upped to 2.3 MW depending on the type of turbine provided. All power will be sold to Electricit de France under long-term contracts with a duration of 15 years. Commercial start-up is slated for the second quarter of 2010.

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