Boralex Inc. has completed the acquisition of EDF Renewables North America’s interest in five operating wind farms with a total installed capacity of 894 MW, located in Texas and New Mexico. EDF Renewables’ interest represents 447 MW of installed capacity. With this acquisition, Boralex’s total installed capacity worldwide will increase to 2,956 MW, marking a significant step towards achieving Boralex’s 2025 Strategic Plan.
“Located in one of the United States’ most robust wind resources areas, these wind farms will grow and diversify our presence in the United States. This acquisition represents Boralex’s entry into the ERCOT (Electric Reliability Council of Texas) and SPP (Southwest Power Pool) markets,” says Patrick Decostre, president and CEO of Boralex. “This acquisition highlights the strategic, creative, and persistent approach to acquisitions our reputation is built upon. I am extremely proud of the Boralex team who worked together to make this a reality.”
“Considering EDF Renewables’ extensive development capabilities throughout North America, divestures provide an opportunity to rebalance our portfolio of owned assets,” comments Luis Silva, CFO at EDF Renewables. “We are grateful to have worked constructively with the local stakeholders in Texas and New Mexico over the last decade and are pleased to partner with Boralex on this transfer of ownership.”
Commissioned between 2014 and 2016, EDF Renewables developed and built all five wind farms utilizing Tier 1 turbine manufacturers. Three of the wind farms have long-term power purchase agreements (PPA) that are well structured with well-established off-takers. The projects include the 200 MW Hereford in Deaf Smith County, Texas; the 200 MW Longhorn in Floyd and Briscoe Counties, Texas; the 194 MW Spinning Spur 3 in Oldham County, Texas; the 50 MW Milo in Roosevelt County, N.M.; and the 250 MW Roosevelt in Roosevelt County, N.M.