North American Windpower: Boralex Goes On Acquisition Spree In France

Boralex Goes On Acquisition Spree In France

in News Departments > Projects & Contracts

by NAW Staff on Thursday 28 June 2012

Montreal-based developer Boralex says it has completed a series of wind farm acquisitions with a combined 90.5 MW in installed capacity.

Boralex says the acquired wind farms are located in the Nord-Pas-de-Calais and Picardie regions of France, strengthening the company's presence in the country.

The company says it paid approximately C$45 million for three wind projects totaling 56 MW from InnoVent, a French company specialized in wind project development. Separately, Boralex also acquired the 34.5 MW St. Patrick wind farm from AES Corp.

In addition, Boralex has entered into a five-year development agreement with InnoVent to secure purchase options for 130 MW of additional wind power projects currently in development in France.

Boralex was advised by K&L Gates, LLP in New York City and Paris and by Volta Avocats in Paris.

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