Wind Energy

Wind energy in France: Boralex to spend $55-million on wind farm

Boralex said it had signed a share purchase agreement with Spanish wind power developer Gamesa. The first transaction “satisfies both parties.”

The total investment for the wind farm will amount to $55 million (€43 million), the company said. The acquisition remains subject to financing as well as certain standard closing conditions.

The commissioning of the site is slated for late 2013. All the energy produced will be sold to Électricité de France under a 15-year term contract.

“In addition to the 161 MW already in operation, this wind energy project will increase the total installed wind power capacity of Boralex in France to 193 MW,” Patrick Lemaire, President and Chief Executive Officer of Boralex, said in a statement.

“This acquisition also allows us to leverage the stockholders’ equity that our partner Cube is committed to invest by the end of 2012. We are confident to complete the acquisition and its financing as soon as possible.”

Wind power in France

1997: 10 MW
1998: 21 MW (+110 %)
1999: 25 MW (+19.1 %)
2000: 68 MW (+172 %)
2001: 95 MW (+39.8 %)
2002: 148 MW (+55.8 %)
2003: 248 MW (+67.6 %)
2004: 386 MW (+55.7 %)
2005: 757 MW (+96.2 %)
2006: 1,567 MW (+107.1 %)
2007: 2,455 MW (+56.7 %)
2008: 3,404 MW (+38.7 %)
2009: 4,492 MW (+32 %)
2010: 5,970 MW (+33 %)
2011: 6,684 MW (+12 %)

By José Santamarta, www.boralex.com/