Boralex and Infinergy, renewable energy developers from Canada and the UK respectively have formed a 50-50 joint venture to develop a 325MW portfolio of onshore wind projects, located particularly in Scotland.
The pipeline of the joint venture features 10 wind projects ranging from 6MW to 80MW which would enable Boralex to purchase or resell them in the future. They include projects that are at different stages of development, including the ones that have just started their construction and those which are nearing full authorization.
Infinergy will take over as the principal developer of the joint venture projects.
The joint venture is expected to help Boralex to expand its future footprint materially and also in tapping into the significant wind resource in Scotland. Boralex has so far developed close to 70MW of other wind projects in the region.
Boralex president and CEO Patrick Lemaire said: “With Scotland's strong political will to support the growth of all its renewable energy sources, we are excited to start working with our new partners Infinergy.
"We are confident that Boralex will be able to contribute its unparalleled experience as a wind developer to complement Infinergy's. We share the common objectives to develop, build and operate as many projects as possible over the next 5 to 7 years."
Boralex says that the joint venture confirms the validity of its belief in the long-term sustainability for wind and renewable energy development across Europe.
The Canadian firm added that Scotland was the choice to focus as it has the most favorable wind conditions in Europe which is seeing decline in state subsidies for wind energy.
Infinergy CEO Esbjörn Wilmar said: “Working together with Boralex enables Infinergy to continue its successful track record of developing onshore wind energy projects.
“We are very pleased to team up with a new partner who shares our positive outlook on renewable energy in general and the opportunities for onshore wind in Scotland in particular."
In mid April, Infinergy announced a joint venture with Greensolver, an independent technical expert for wind and solar power. The joint venture named as Greensolver UK would offer technical and commercial management of renewable energy assets in the UK.