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Boralex takes stock of the projects of Dunkerque and Moulins du Lohan in France

Power News - Published on Mon, 25 Mar 2019

Image Source: Investing News Network
On March 15, 2019, a consortium of which Boralex inc is included, submitted a proposal to the French State in the framework of the call for tenders for wind farms at Dunkirk Sea. After an in-depth review of the competitive conditions of the bidding process and the project's risk profile, Boralex concluded that its participation in this project no longer meets its investment criteria. In the joint venture agreement with the other members of the consortium, Boralex has an option to sell its interest in the project to other existing partners. Boralex will exercise this option and will thus cede all of its participation to the other members of the consortium immediately following the final selection of the bid winner (s), provided that the option can be exercised in accordance with the terms of reference. Bidding, the French State and the joint venture agreement.

Boralex will remain part of the consortium until such time as it exercises its option to sell its interests to the other members of the consortium. However, Boralex will continue to participate in the development of the project, both as a member of the consortium and as a non-member after the transfer of its interest. So. the consortium continues to firmly believe in the great potential of this important project for the French energy transition.

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Posted By : Rabi Wangkhem on Mon, 25 Mar 2019
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