Canadian renewable energy firm Boralex has acquired about 200MW of wind power projects in France and Scotland for C$103m (€70m).
The portfolio includes the 51MW ready-to-build Moulins du Lohan project in Brittany, France, a 23.5MW project in Scotland at an advanced stage of development and 126 MW of projects in Scotland at preliminary stages of development.
Construction of Moulins du Lohan is due to begin this autumn, with commissioning slated for the second quarter of 2019.
The total amount of investment needed to complete the Moulins du Lohan project is estimated at C$142m (€97m).
The company said it will continue the study and development of the Scottish projects depending on the regulatory framework prevailing in the country in the medium term.
The acquisition includes about 8,500ha land on which the projects will be developed and Boralex said it would decide whether to sell it, while keeping the rights for wind development.
Boralex president and CEO Patrick Lemaire said: "With this acquisition, Boralex continues to expand in the French wind power market.
"The acquisition also demonstrates our willingness to explore new markets and we believe that Scotland, with its very advantageous wind conditions and a political environment generally favourable to renewable energy, including onshore wind power, offers attractive growth opportunities in the medium term.”
Image : Wind turbines in the Aveyron department of the Midi-Pyrenees region of France. Photo : courtesy of JohnnyOneSpeed/Wikipedia.