S&C Electric Company id2124
in News Departments > Projects & Contracts

Quebec-based renewable energy developer Boralex Inc. says its subsidiary, Boralex Europe SA, has closed on long-term financing for a 26 MW portion of the La Vallee wind project, a 32 MW wind farm planned for a site in France.

The financing is being underwritten by a French banking consortium comprising OSEO, Credit Cooperatif and Credit Mutuel ARKEA. The final amount of the financing is 33 million euros ($43 million), or about 77% of the total investment. Financing for the remaining 6 MW will be completed within a few weeks, when certain standard closing conditions are satisfied, Boralex notes.

The borrowed amount will be amortized over a 15-year period at a rate of approximately 4.5% for the full duration of the loan.

The electricity generated by the La Vallee wind project will be sold to Electricite de France under a 15-year contract. Construction on the wind farm began in December 2012, and commissioning is scheduled for late this year.



Register here to receive our Latest Headlines email newsletter
Suggested for you
Mortenson id2096