in News Departments > Projects & Contracts
print the content item

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.



Trachte Inc._id1770
Latest Top Stories

Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.


Could Initial Offshore Wind Projects Crash New England's REC Market?

Some are concerned that the first offshore wind projects could negatively impact pricing of renewable energy credits (RECs) in New England.


Catching Up With The DOE's Down-Select Offshore Winners

The three recipients of key U.S. Department of Energy (DOE) funding provide updates on their offshore wind demonstration projects.


Texas Comptroller Attacks Wind Power, And Industry Fights Back

Texas Comptroller Susan Combs recently released a report calling for an end to wind power subsidies. The Wind Coalition has responded, saying the report is riddled with misinformation.


How To Mitigate Blade Issues And Costly Downtime

Routinely inspecting your turbine's blades can help identify problems early on, ultimately cutting down unscheduled maintenance costs.

Renewable NRG_id1934
Canwea_id1984