Boralex enters financing agreement for two wind power farms in France

Canadian company Boralex has entered into a long-term financing agreement for the Fortel-Boonieres and Saint Francois wind farms under development if France

Canadian company Boralex Inc. has entered into a long-term financing agreement for the Fortel-Boonieres and Saint Francois wind power farms under development in France. Boralex is a company engaged in the development of renewable energy power stations around the world. It currently has a combined capacity of more than 650 MW distributed between its facilities located in Canada, France and the U.S.

The financing agreement provides the wind farms with nearly C$99 million in funding and is 82 percent of the total investment in the projects. The funding is an amortized loan over a 15-year period with an interest rate of approximately 3.7 percent, and it should be distributed by the end of April.

The purpose of the project is to build wind power facilities with a total capacity of 46 megawatts and 16 General Electric (NYSE: GE) 2.85 MW turbines. The turbines and facilities are already under construction at both sites. The facilities should be operational by the end of 2014 with a capacity of 23 MW and the remaining 23 MW ready by the beginning of 2015.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs