Montreal, QC / PRNewswire / - Boralex renewable energy producers inc. (TSX: BLX) and Infinergy, located in Canada and the United Kingdom respectively, are pleased to announce the signing of a 50/50 Joint Venture Agreement, which aims to create a portfolio of onshore wind energy projects. 'a total estimated power of 325 MW.
The joint venture, which includes a portfolio of ten wind projects ranging from 6 to 80 MW and mainly located in Scotland, will allow Boralex to proceed with the acquisition or resale of projects in the coming years. The projects are at different stages of development, some are in the prospecting phase while others are about to get their full approval.
"In addition to the highly supportive Scottish policy environment for all renewable energy sources, we look forward to working with our new partner, Infinergy," said Patrick Lemaire, Boralex's President and Chief Executive Officer. "We are confident that Boralex will be able to leverage its vast experience as a developer of wind projects to support Infinergy. We have the same goals of developing, building and operating as many projects as possible over the next five to seven years. "
"Working with Boralex will enable Infinergy to continue its momentum in the development of onshore wind projects," said Esbjörn Wilmar, Chief Executive Officer of Infinergy. "We are very pleased to be partnering with a new partner who shares our vision of renewable energy in general, and the opportunities that Scotland offers for onshore wind energy in particular. "
Infinergy has completed more than 350 MW of onshore wind projects in the United Kingdom, with a success rate of 80%. To complete the project development phase, Boralex and Infinergy committed to invest a total of £ 6.6m (C $ 10.9m) until the end of 2019 (£ 5.5m from share of Boralex or CA $ 9.1 million).
With nearly 70 MW of other wind power projects being developed by Boralex in Scotland, this joint venture allows the company not only to significantly increase its presence, but also to take advantage of the wind power of the company. 'Scotland. Infinergy will act as the lead sponsor of the joint venture projects.
This joint venture demonstrates Boralex's belief in the long-term viability of developing wind and renewable energy in Europe . Given the decline in public subsidies for these types of projects across Europe , the decision to concentrate the activities in Scotland, knowing that this country has the most favorable wind conditions in Europe , made a lot of sense from a strategic point of view and tactical.
K & L Gates LLP (London & New York ) has acted as legal counsel for Boralex. Pinsent Masons LLP acted as legal counsel and JLL Limited as financial advisor to Infinergy.
Boralex develops, builds and operates renewable energy production sites in Canada , France and the United States. A leader in the Canadian market and the leading independent player in onshore wind power in France , the Company is distinguished by its solid experience in optimizing its asset base in four types of power generation - wind, hydroelectric, thermal and solar. Boralex ensures sustained growth thanks to its expertise and diversification acquired over the last 25 years. The Boralex Shares and Convertible Debentures are traded on the Toronto Stock Exchange under the symbols BLX and BLX.DB.A respectively. For more information, visit http://www.boralex.comor http://www.sedar.com . Follow us on Facebook , LinkedIn and Twitter .
Infinergy is an independent, private-owned company that operates in the renewable energy sector. It has an impressive track record in the development, financing, construction and operation of projects in this sector. The company is active in the UK, the Netherlands and Australia in onshore wind and solar power projects. Infinergy has been a leader in this sector for more than 10 years and has development projects, particularly in virgin areas (eg, arable and agricultural lands and forests) and decommissioned areas (eg, industrial and industrial sites). ports). For more information, please visit http://www.infinergy.co.uk . , LinkedIn and Twitter .
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