MONTREAL—Boralex Inc. has locked in a deal to buy a trio of wind energy projects in Europe.
The Kingsey Falls, Que.-based renewable energy developer said Sept. 16 it has paid $103 million for three under-development sites in Scotland and France that represent 200 megawatts in future power capacity.
“With this acquisition, Boralex continues to expand in the French wind power market,” Patrick Lemaire, the company’s president and CEO, said. “The acquisition also demonstrates our willingness to explore new markets and we believe that Scotland, with its very advantageous wind conditions and a political environment generally favourable to renewable energy, including onshore wind power, offers attractive growth opportunities in the medium term.”
Construction on the 51 MW French site is expected to begin this fall, while the two Scottish wind projects are both in the development stage.
The acquisition follows another company deal to buy a 350 MW portfolio of wind power projects in France, which closed this January.