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Boralex adds 47 MW wind power capacity in France

Wed, 12/30/2009 - 6:31am
Reuters

(Reuters) - Canadian power producer Boralex Inc said it had, along with its European partner Cube Infrastructure Fund, acquired three wind farms in France to add 47 MW of capacity for about C$115 million.

The acquisition increases the company's installed wind power capacity in Europe to 170 MW, Boralex said in a statement.

The company said a 30 MW wind site in Plateau de Ronchois in the Picardie and Normandie regions and a 10 MW wind site at Grand Camp in the Center region, which are under construction will account for close to 78 percent of the total investment.

Boralex said the equity contribution came from the capital injected by Cube.

On December 14, Boralex entered into a partnership with Cube to accelerate development in the renewable energy segment in Europe, particularly in wind and solar power.

The partnership would make it possible to support the development of an additional 110 MW of wind power, without Boralex being required for any supplementary funds, the company had said then.

The third wind farm, a 7 MW Bel Air site in Brittany, which had been in operation since December 2006, is financed by a French bank, Boralex said.

Boralex shares were up 5 Canadian cents at C$9.18 Tuesday morning on the Toronto Stock Exchange.

(Reporting by Koustav Samanta in Bangalore; Editing by Unnikrishnan Nair)

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