Boralex announced this week the signing of a contract to purchase shares for the acquisition by its subsidiary Boralex Europe of a 32 MW wind project in France.

This project, located in the department of Indre, will consist of 16 Gamesa G90 wind turbines with a capacity of 2 MW each. This first transaction between Boralex and Gamesa satisfied “fully” both parties and the total investment amounts to CA$55 million (43 million euro).

The commercial operation of the site is planned for the third quarter of 2013.

The total energy produced will be sold to Electricité de France under a long-term contract lasting 15 years.

“In addition to the 161 MW already in operation, this project will bring the total installed wind power capacity to 193 MW of Boralex in France. This acquisition also enables us to leverage our equity partner Cube has committed to invest by the end of 2012. We are confident to complete the acquisition and financing as soon as possible,” said Patrick Lemaire, President and CEO of Boralex.

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