Canada-based Boralex Inc. has completed financing for two community wind farms in Quebec totaling about 75 MW.
In partnership with the Temiscouata Regional County Municipality (RCM), Boralex has closed a $64.1 million financing for the approximately 25 MW Temiscouata I wind farm. The community wind project consists of 10 Enercon turbines, has a 20-year power purchase agreement with Hydro-Quebec and is slated for completion in December.
At the same time, Boralex has closed a $142.7 million financing for the appoximately 50 MW Temiscouata II wind farm. Commissioning of Temiscouata II, a Boralex project consisting of 22 Enercon turbines, is anticipated by December 2015.
‘Completion of financing for the two Temiscouata wind farms is an important step in the development of these projects. Along with the RCM, Boralex has managed to successfully implement itself in this beautiful Quebec region through projects of high quality,’ says Boralex President and CEO Patrick Lemaire.
The sole lender in each of the two financing arrangements is KfW IPEX-Bank.