Canadian energy company Boralex has received financing of €46.4m (C$67.9m) for the construction of the 30MW Chemin de Grès wind farm in France.
The wind farm is located in the French communes of Viesly and Saint-Python. It is expected to be commissioned in late 2017.
It will include 9 turbines being supplied by Danish wind turbine manufacturer Vestas. Each turbine will produce about 3.3MW and will have a rotor diameter of 112m. The height of the nacelle will be around 94m and the length of each blade is 56m.
The funding has been provided by a syndicate of lenders led by Crédit Industriel et Commercial, Bpifrance Financement and Arkea Banque Entreprise et Institutionnels. The financing includes tax-free long-term financing of €40m (C$58.5m) and VAT credit financing of €6.4m (C$9.4m).
Recently, Caisse de dépôt et placement du Québec (la Caisse) has acquired a 17.3% stake in Boralex for $287.5m. As per la Caisse, by acquiring stake in Boralex, it can invest in the promising sector of renewable energy and in high-quality assets.
Boralex is an independent producer and operator of renewable power facilities across Canada, the US and France. Boralex operates wind power, hydropower and solar facilities.
With a major presence in the Canadian renewable energy segment, Boralex claims to be one of the largest independent producers of onshore wind power in France.
In January, Boralex acquired Enercon Canada’s 230MW Niagara Region wind farm in Ontario province, Canada. It had also purchased 200MW of wind power projects in France and Scotland in September last year.
Image: Boralex closes funding for 30MW French wind farm. Photo: Courtesy of Stephen ONeill/FreeImages.com.