EDF Renewables North America Divests Interest in Five Wind Projects Totaling 447 MW in the United States

Source Press Release
Company Boralex Inc.Electricite de France S.A. 
Tags Deals, Renewable Energy, Power, Asset Deals
Date December 29, 2022

EDF Renewables North America (EDF Renewables) announced today it has completed the transaction with Boralex Inc. (Boralex) (TSX: BLX) by which Boralex has acquired EDF Renewables’ 50-percent ownership interests in five operating wind power projects totaling 447 megawatts (MW) in Texas and New Mexico.

EDF Renewables put into service all five projects totaling 894 MW with commissioning dates between 2014 and 2015. The sale of assets represents an integral part of EDF Renewables’ business model to facilitate a balanced portfolio and advance funding for new project development.

“Considering EDF Renewables’ extensive development capabilities throughout North America, divestures provide an opportunity to rebalance our portfolio of owned assets," said Luis Silva, Chief Financial Officer, EDF Renewables. “We are grateful to have worked constructively with the local stakeholders in Texas and New Mexico over the last decade and are pleased to partner with Boralex on this transfer of ownership.”"

Boralex is pleased to collaborate with EDF Renewables on this transaction,” said Patrick Decostre, President and Chief Executive Officer of Boralex. “EDF Renewables and Boralex share extensive experience in renewable energy production, and this acquisition furthers our shared goals of making a more sustainable planet for generations to come.”

Boralex will become the managing member of the partnership.

Source: EvaluateEnergy® ©2023 EvaluateEnergy Ltd