Canada-based Boralex Inc. says its subsidiary Boralex Europe SA has acquired the 32 MW La Vallee wind project, located in Indre, France.
The project, which was initially developed by Gamesa, consists of 16 Gamesa G90 wind turbines. A long-term project financing will be provided by a banking consortium comprising OSEO, Credit Cooperatif and Credit Mutuel ARKEA. The signing of the financing documents and the fulfilling of the standard closing conditions are scheduled for mid-December.
Boralex expects the La Vallee wind project to begin operation by the end of 2013. All the energy produced will be sold to Electricite de France under a 15-year contract.