Boralex, a renewable energy company, has partnered with Énergir and Hydro-Québec to develop three 400 MW wind projects in Seigneurie de Beaupré territory in Quebec, Canada. The three companies will collaborate on the development of these projects through their affiliates. The proposed projects are Des Neiges Wind Farm – South, Des Neiges Wind Farm – Charlevoix, and Des Neiges Wind Farm – West, which will be located near the existing Seigneurie de Beaupré wind farms.
Under three power purchase agreements, the renewable energy generated by the proposed wind farms will be transferred to Hydro-Québec. In addition, Boralex, Énergir, and Hydro-Québec wind projects are expected to cost about $3 billion. Boralex and Énergir are already developing and operating Seigneurie de Beaupré wind farms of 364 MW for 15 years. The upcoming three wind farms will be close to this facility.
In February 2022, Boralex decided to sell a 30 per cent stake in its renewable assets and development pipeline in France to Energy Infrastructure Partners, a Swiss investment group. The transaction is part of the two companies’ long-term collaboration. The deal encompasses operating assets with a total capacity of more than 1 GW, as well as a 1.5 GW project pipeline in the works. Boralex would get up to $596 million in cash at the conclusion of the transaction.
REGlobal’s Views: Wind power makes up roughly 3.5 per cent of Canada’s electricity generation. It is expected to contribute more in the near future as the country moves ahead with its plans to generate 90 per cent of electricity from non-emitting sources by 2030.