Boralex wraps up financing on two Quebec wind farms

Boralex Inc. and Témiscouata Regional County Municipality (RCM) in Canada have closed on financing for the Témiscouata I wind farm, while Boralex has also closed on the financing for the Témiscouata II wind farm. 

“Completion of financing for the two Témiscouata wind farms is an important step in the development of these projects. Along with the RCM, Boralex has managed to successfully implement itself in this beautiful Quebec region through projects of high quality,” said Boralex President and CEO Patrick Lemaire. 

“After several years of work, we are pleased with the recent agreements that have allowed us to make sure to get our community project performing equipment at a competitive price in addition to a maximum benefit for our community” added Témiscouata RCM Warden Guylaine Sirois. 

The sole lender in each of the two financing arrangements is KfW IPEX-Bank. Construction of the two wind farms, Témiscouata I and II, is already underway onsite.

  • The Témiscouata I wind farm will have 23.5 MW of installed capacity. Témiscouata I is a community wind power project under a partnership between Témiscouata RCM and Boralex consisting of 10 Enercon wind turbines, which is covered by a 20-year power purchase agreement with Hydro-Québec. The wind farm is slated for commissioning in December 2014. 
  • The Témiscouata II community wind farm has 51.7 MW of installed capacity. Commissioning of Témiscouata II, a Boralex project also consisting of 22 Enercon turbines, is anticipated by December 2015. 

The Témiscouata regional county municipality is an organization that oversees land development, town planning, environmental protection, and regional, cultural, social and community development.

Boralex is a power producer whose core business is dedicated to the development and the operation of renewable energy power stations. Currently, it operates an asset base with an installed capacity of more than 650 MW in Canada, France and the Northeastern United States. Boralex is also committed under power development projects, both independently and with Canadian and European partners, to add about 250 MW that will be put in service by the end of 2015. Boralex’s shares and convertible debentures are listed on the Toronto Stock Exchange under the ticker symbols BLX and BLX.DB, respectively.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.