Canada’s Boralex Acquires 50% Stake in Five Wind Farms of 894 MW in US

In a major development, EDF Renewables North America has announced that the company has completed the transaction with Boralex Inc. by which Boralex has acquired EDF Renewables’ 50-percent ownership interests in five wind power projects totaling 447 MW in Texas and New Mexico. This has taken the renewable energy portfolio of the purchaser to further heights.

EDF Renewables is a wholly owned subsidiary of the French utility EDF Group.

EDF Renewables held that all five wind energy projects have been into operation whose cumulative capacity stands at 894 MW. It said that the commissioning date of all the projects dates was between 2014 and 2015.

EDF Renewables & Munich Re’s MEAG to Invest in US Renewable Energy Projects

Also Read

Three wind energy projects are based in Texas: Hereford of 200 MW, Longhorn of 200 MW and Spinning Spur 3 having a capacity of 194 MW. Two of the projects are in New Mexico: Milo of 50 MW and Roosevelt of 250 MW. As per the agreement, Boralex will become the managing member of the partnership.

The official statement of EDF Renewable held that its sale of assets represents an integral part of EDF Renewables’ business model to facilitate a balanced portfolio and advance funding for new project development.

Luis Silva, Chief Financial Officer, EDF Renewables, said, “Considering EDF Renewables’ extensive development capabilities throughout North America, divestures provide an opportunity to rebalance our portfolio of owned assets. We are grateful to have worked constructively with the local stakeholders in Texas and New Mexico over the last decade and are pleased to partner with Boralex on this transfer of ownership.”

EDF Renewables, Wärtsilä to Develop 50 MW/100 MWh Energy Storage in UK

Also Read

“Boralex is pleased to collaborate with EDF Renewables on this transaction,” said Patrick Decostre, President and Chief Executive Officer of Boralex. “EDF Renewables and Boralex share extensive experience in renewable energy production, and this acquisition furthers our shared goals of making a more sustainable planet for generations to come.”

Boralex is a Canadian renewable energy company which is also France’s largest independent producer of onshore wind power and has facilities in the US and the UK. Over the past five years, its installed capacity has more than doubled to 2.9 GW.