Canadian renewables company Boralex is set to form a new North American business unit – in addition to an existing European segment – as it takes a regional approach to project development.
The regional units – effective from 1 November – will consolidate Boralex’s operations in project development, public affairs, human resources, construction, asset management, operational finance and accounting, energy sales, and local mergers and acquisitions.
Boralex’s vice president for development Hugues Girardin is set to serve as executive vice president and general manager of the North American unit.
The developer is also due to expand its executive committee with a new senior vice president in charge of enterprise risk management and corporate social responsibility, and another in charge of corporate strategy and business performance.
Boralex has developed more than 2.5GW of operational renewables capacity to date, and is developing 2.3GW of wind and 1.6GW of solar capacity – plus 200MW of storage capacity.
It aims to have 4.4GW of operational capacity by 2025 and 10-12GW by 2030.
Boralex envisages wind and solar each accounting for 45% of this 10-12GW, with storage making up about 10% and hydropower less than 1%.
It expects project development to be centred in the US (about 45%), ahead of France (about 25%), the rest of the EU and the UK (about 15%) and Canada (about 15%).