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Boralex Creates Breeze By Buying 90.5 MW of Wind Projects

June 28, 2012

Renewable power producer Boralex (BLX :TSX) has purchased 90.5 megawatts (MW) of wind power in France, including 34.5 MW already in operation.

Boralex paid $43.5 million for three wind farms totaling 56 MW of capacity to InnoVent SAS, a French developer. They did not announce the price they paid AES Corp. (AES :NYSE) for the currently operational 34.5 MW St-Patrick wind farm.

Today’s announced deals give Boralex over 500 MW of renewable energy in operation. Nearly 200 MW of that power capacity is in France.

Currently the power generated from the St-Patrick wind project is being sold to Électricité de France under long-term contracts expiring in 2024 and 2025. The projects acquired from AES are expected to be operational in the second half of 2013.

Shares of AES were up 0.56 percent in afternoon trading.

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