Borlex acquires controlling stake in southwest U.S. Wind portfolio as EDF divests
EDF Renewables North America has completed the sale of its 50-percent ownership in five wind power projects in New Mexico and Texas, totaling 447 MW, to Canada-based Boralex.
EDF Renewables, the spinoff of French energy giant EDF, says the sale of these assets is part of its business model to balance its portfolio and fund new project development. Boralex will now become the managing member of the partnership.
“EDF Renewables and Boralex share extensive experience in renewable energy production, and this acquisition furthers our shared goals of making a more sustainable planet for generations to come,” Patrick Decostre, President and CEO of Boralex, said.
The five projects have a total capacity of 894 MW and were commissioned between 2014 and 2015. The projects include 200-MW Hereford, 200-MW Longhorn and 194-MW Spinning Spur 3 projects in Texas; as well as 50-MW Milo and 250-MW Roosevelt projects in New Mexico.
“Considering EDF Renewables’ extensive development capabilities throughout North America, divestures provide an opportunity to rebalance our portfolio of owned assets,” said Luis Silva, Chief Financial Officer, EDF Renewables. “We are grateful to have worked constructively with the local stakeholders in Texas and New Mexico over the last decade and are pleased to partner with Boralex on this transfer of ownership.”
In December, EDF Renewables North America sold a 21.6-MW portfolio of community solar projects in Maine. The buyer, Luminace, acquired the Overlook, Tower and Green Mile community solar farms, although EDF stayed involved as engineering, procurement and construction contractor.
EDF Renewables North America is a subsidiary of EDF Renewables, the dedicated renewable energy affiliate of the EDF Group.
Boralex is a Quebec-based company that produces renewable wind, solar, hydroelectric and thermal energy in Canada, France and the U.S.
