Securing a purchase agreement would greatly add to Boralex's European footprint
MONTREAL—One of Quebec’s leading renewable energy developers is preparing to make a big move across the Atlantic.
Boralex Inc. has entered into an exclusivity agreement with private developers that could see the Kinsey Falls, Que.-based company acquire a portfolio of wind power projects in France.
“With this transaction, our position as France’s leading independent producer will be strengthened while confirming the French market as the cornerstone of our growth in the coming years,” president and CEO of Boralex, Patrick Lemaire, said.
Though still without a concrete purchase agreement, if Boralex can push through a deal, it will boost its European footprint significantly. The exclusivty agreement includes wind power projects with 350 megawatts of capacity, all of which will be commissioned in 2017 or 2018.
The Quebec firm said it continues to hold discussions with the sellers to reach an agreement. If successful, the company will own approximately 850 MW of French power projects by 2018.