Boralex and Infinergy to form JV for new onshore wind projects in UK
Canada-based Boralex and UK-based Infinergy have executed a joint venture (JV) agreement to develop a pipeline of onshore wind projects across the UK.
Canada-based Boralex and UK-based Infinergy have executed a joint venture (JV) agreement to develop a pipeline of onshore wind projects across the UK.
Estimated to produce a total of 325MW, the planned pipeline of ten projects will range from 6MW to 80MW capacity. Boralex will also have the opportunity to acquire or resell the projects in future.
Infinergy will be the principal developer of the JV projects, which are currently at different stages of development.
Boralex president and CEO Patrick Lemaire said: “With Scotland’s strong political will to support the growth of all its renewable energy sources, we are excited to start working with our new partners Infinergy.
“We are confident that Boralex will be able to contribute its unparalleled experience as a wind developer to complement Infinergy’s.
“Boralex and Infinergy have committed to invest a total sum of £6.6m until the end of 2019.”
“We share the common objectives to develop, build and operate as many projects as possible over the next five to seven years.”
In addition, Boralex and Infinergy have committed to invest a total sum of £6.6m until the end of 2019 to help the wind projects achieve their development phase.
Of the total investment, Boralex will provide £5.5m and Infinergy will provide $C9.1m ($5.4m).
Boralex has developed nearly 70MW other wind projects in Scotland, while Infinergy has delivered more than 350MW of onshore wind projects across the UK.