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April 20, 2022updated 06 Jun 2022 5:22pm

Boralex and partners to develop 1.2GW of wind projects in Canada

Clean energy generated by the wind facilities will be sold to Hydro-Québec under three power purchase agreements.

Renewable energy company Boralex has partnered with Énergir and Hydro-Québec to develop three 400MW wind projects in Seigneurie de Beaupré territory in Quebec, Canada.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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According to the agreement, the three companies will jointly focus on the development of these projects through their affiliates.

Boralex president and CEO Patrick Decostre said: “At Boralex, we have been developing and operating renewable energy power facilities in Québec and abroad for more than 30 years.

“This agreement represents both the recognition of wind power as an essential source in Québec’s energy mix and a vote of confidence for our team who, in collaboration with Énergir for more than 15 years, has made wind power development on the Seigneurie de Beaupré territory successful.”

The proposed projects include 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.

The existing Seigneurie de Beaupré wind farms with a total capacity of 364MW are currently operated by Boralex and Énergir.

Wind projects developed by Boralex, Énergir and Hydro-Québec could see an investment of around $2.3bn (C$3bn).

The clean energy generated by the proposed wind facilities will be delivered to Hydro-Québec under three power purchase agreements (PPAs).

The projects are said to be in line with HydroQuébec’s intention to build a portfolio of wind energy facilities with experienced partners in Québec.

Hydro-Québec president and CEO Sophie Brochu said: “With the energy transition and the expected growth in electricity needs in Québec, it is imperative that we have the required flexibility when it comes to supplies.

“As stated in our Strategic Plan 2022-2026, we want to combine our strengths with those of experienced partners from the private sector, therefore positioning wind power development as an enabler of collective wealth for the benefit of Quebecers.”

The partners will incorporate a collaborative approach to design the projects with the host communities, as well as the indigenous communities located in the regions involved.

In February this year, Boralex agreed to sell 30% interest in its renewable assets and development pipeline in France to Energy Infrastructure Partners.

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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