Boralex Inc. (“Boralex” or the “Company”) (TSX: BLX) is pleased to announce that three of its projects, totalling 42 MW, have been selected in the first technology-neutral tender, covering wind, solar and hydropower, conducted by the Ministry of Ecological and Solidarity Transition (now the Ministry of Ecological Transition and Territorial Cohesion) of France.
“Mature, competitive renewable energies are key to achieving France’s energy transition and essential when it comes to strengthening the country’s energy sovereignty. Despite the French government's recent decision to retroactively modify our contracts and conditions of sale on the electricity markets, we remain committed to contributing to the development of renewable energies, as we have been doing for over 20 years in Europe. However, we call on the government and decision-makers to be vigilant and avoid any new retroactive measure as well as any intervention that affects the integrity of electricity markets. Any change in regulation is detrimental to attracting private investment in France and, consequently, to achieving the national decarbonization objectives set by the State,” said Patrick Decostre, President and Chief Executive Officer of Boralex.
These projects have received the necessary administrative authorizations and will allow Boralex to benefit from a feed-in premium contract for 20 years as of the commencement of commercial operation.
Boralex has a portfolio of over 1.5 GW of wind and solar projects in France at various stages of development. It currently has over 1.1 GW of wind and solar facilities in operation in France and approximately 2.5 GW worldwide.
