As per the deal, Boralex will acquire 79MW of projects which are due to be commissioned during 2017 and 2018; 159MW of projects which are in advanced stage of development; and 118MW of projects which are under preliminary development stages.
Boralex president and CEO Patrick Lemaire said: "With this transaction, our position as France’s leading independent producer will be strengthened while confirming the French market as the cornerstone of our growth in the coming years."
Boralex expects the acquisition to bring its portfolio of projects to nearly 850MW, including projects currently under development.
The transaction is subject to the negotiation of the agreement and related documentation as well as customary conditions, the company said.
The firm, which currently operates 500MW of assets in France, expects to invest around €150m for the ready-to-build power projects.
Boralex plans to negotiate with the private developers during the exclusivity period to form definitive agreements in order to acquire the assets.
The acquisition deal comes a day after Boralex commissioned the 24MW Frampton wind power project, located in Beauce, Canada.
Boralex owns 66.7% stake in the project while the Municipality of Frampton holds the remaining 33.3% stake.
Featuring 12 Enercon E-82 turbines, the project is backed by a 20-year power purchase agreement with Hydro-Québec.
