Jan 5 2010
The acquisition of three wind farms in France by Boralex and Cube Infrastructure has resulted in an increase of 170 MW in Boralex’s installed wind power capacity in Europe. Cube Infrastructure Fund is Boralex‘s new European partner. Two of these wind farms are currently under construction. These two wind farms include the 10 MW wind site at Grand Camp in the Centre region and the 30 MW wind site in Plateau de Ronchois in the Picardie and Normandie regions. The 7 MW Bel Air site is the third wind farm, which had started its operation from December 2006 in Brittany.
Patrick Lemaire, Chief Executive Officer and President of Boralex, remarked that the company’s ability to utilize various opportunities as they come up in the French market is established by this acquisition. This acquisition also provides the company an opportunity to leverage its partnership with CUBE. Lemaire also stated that the completion of all these facilities will enable the wind power segment in the Boralex portfolio to reach more than 210 MW.
This transaction has a total investment of about C$115 million ((euro)73 million). The equity contribution was obtained from participation and the capital brought in by CUBE. A French bank is financing the Bel Air wind farm. Natureo Finance, Simmons & Simmons, Blake and Cassels & Graydon were companies that guided Boralex throughout the entire process. Norton Rose LLP provided its advice to BNP Paribas.
Source: http://www.boralex.com/