MONTRÉAL, Dec. 2, 2019 /CNW Telbec/ - Boralex Inc. ("Boralex" or the "Corporation") (TSX: BLX) announces the commercial commissioning of the 24 MW installed capacity Seuil du Cambrésis wind farm located in France's Nord department. The commissioning of this wind farm increases Boralex's capacity to 975 MW in France and a total of 2,040 MW worldwide.
"Seuil du Cambrésis is the 5th wind farm we've installed this year as part of our strategic plan; it will enable us to reach our 1,000 MW of installed capacity in France by 2020, which will also mark the 30th anniversary of our company," said Nicolas Wolff, Vice President and General Manager, Boralex Europe.
The wind farm is financed through the credit facility included in the refinancing transaction announced on November 28th.
The 15-year feed-in premium agreement for the wind farm comprising seven Vestas V117 wind turbines, with a capacity of 3.45 MW each, entered into force on December 1, 2019. The wind farm is expected to contribute about €4.8 million (or $7 million Canadian) to Boralex's annualized EBITDA(A) with an annual electricity production estimated at more than 74,400 MWh, which will avoid the emission of nearly 5,580 tons of CO₂.1
Boralex develops, builds and operates renewable energy power facilities in Canada, France, the United Kingdom and the United States. A leader in the Canadian market and France's largest independent producer of onshore wind power, the Corporation is recognized for its solid experience in optimizing its asset base in four power generation types—wind, hydroelectric, thermal and solar. Boralex ensures sustainable growth by leveraging the expertise and diversification developed over the past 25 years. Boralex's shares are listed on the Toronto Stock Exchange under the ticker symbol BLX. More information is available at www.boralex.com or www.sedar.com. Follow us on Facebook, LinkedIn and Twitter.
1 Based on the calculations and the assumptions by the Chair in Energy Sector Management of the HEC Montréal Business School.
SOURCE Boralex Inc.
For further information: Media, Julie Lajoye, Senior Advisor, Corporate Communications, Boralex Inc., 514-985-1327, [email protected]; Investor Relations, Stéphane Milot, Director, Investor Relations, Boralex Inc., 514-213-1045, [email protected]