Boralex acquires 90.5MW in France

FRANCE: The French subsidiary of Canadian developer Boralex has completed the purchase of 90.5MW of projects in northern France.

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The company has acquired one 34.5MW project from AES and another three, with a total capacity of 56MW, from Innovent SAS. The AES and Innovent projects are located in the Nord-Pas de Calais and Picardie regions respectively.

Additionally, Boralex has entered into an option to buy a further 130MW from Innovent, which are currently in development. The acquisition has also allowed Boralex to push through a deal with the Cube Infrastructure Fund, which has a 25% equity stake the developer.

Boralex president and CEO Patrick Lemaire said: "With this acquisition, Boralex exceeds 500 MW in operation, with an installed capacity of nearly 200 MW in France.

"This acquisition also allowed Cube Infrastructure Fund to complete its initial financial commitment well ahead of the December 2012 deadline. Our European development team is currently finalizing the development projects we just acquired."

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