Boralex Inc. (TSX: BLX) said in a Nov. 9 earnings report that it currently has 224 MW of projects under construction, including the Le Pelon (10 MW) and Chemin de Grès (30 MW) wind projects in France.
Factoring in these additions as well as other growth opportunities yet to be identified, Boralex expects to achieve its target of an asset base of over 1,650 MW by the end of 2020, which is equivalent to nearly 50% growth from its current level.
Regarding operations, besides the commissioning of the 14-MW Touvent wind farm in early August, Boralex completed during the third quarter the acquisition of a portfolio of wind power projects of nearly 200 MW located in France and Scotland, including the 51-MW Moulin de Lohan project in France for which construction has already begun.
Boralex said it has also been selected by the Innu Nation as a partner to develop the Apuiat project, a 200-MW wind farm on public land located in the municipality of Port-Cartier in Québec’s Côte-Nord region. To implement this project, Boralex will partner with Renewable Energy Systems Canada Inc. to draw on their experience and expertise in the development, design and construction of renewable energy projects. The land had been awarded to the Innu Nation under the 2006-2015 Energy Policy.
Two wind power sites totalling 22 MW will be commissioned by the end of fiscal 2016, namely the 10-MW Port Ryerse wind farm in Ontario, Canada, and the first phase of the 12-MW Plateau de Savernat wind farm in France. Boralex has also confirmed that it will exercise its option to acquire a 25% economic interest in the 230-MW Niagara Region Wind Farm project in Ontario, the closing of which is expected around Dec. 31, 2016. Commissioning took place on Oct. 30, 2016.
Boralex develops, builds and operates renewable energy power facilities in Canada, France and the United States. Boralex’s shares and convertible debentures are listed on the Toronto Stock Exchange.