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Wind Wire: France - Boralex steps in to relieve Theolia

The struggling French wind developer and operator Theolia continues its divestment strategy with the sale of 47MW of assets in France to the Canadian developer Boralex for around EUR73 million.

The 6.9MW portfolio comprises three Nordex 2.3 MW turbines, already turning at Bel Air in the Cotes d'Armor, Brittany, and two projects under construction - 30MW at Ronchois in Seine-Maritime and 10MW at Grand Camp in the Eure-et-Loir. Both will be equipped with Enercon 2MW machines, to be completed mid-summer. Last October Boralex bought a 9.2MW project from Theolia, now under construction using Enercon turbines. This is the first deal with Boralex's new European partner the Cube Infrastructure Fund since joining forces last December. Boralex gave Luxembourg-based Cube a 30% holding in its European business for a capital injection of EUR33 million, allowing Boralex to develop an additional 110MW of European projects.

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