Patrick Decostre, Boralex‘s chief executive officer, said in the statement that the acquisition would help balance the company’s hydro and solar holdings in the United States. One of the company’s main goals in its 2025 plan, published in 2021, was to make the U.S. market its main target for investment.
Boralex’s Canadian holdings include 20 wind farms, nine hydroelectric facilities, three energy storage centres and one solar plant. Of the five wind farms, two are selling energy into a wholesale power market. Two have power purchase agreements in place, guaranteeing energy sales and set prices for at least 13 years. The last has a three-year power purchase agreement. After an agreement expires, companies are free to renew deals.
The wind farms, located in Texas and New Mexico, were commissioned between 2014 and 2016 and feature turbines from Dutch manufacturer Vestas Wind Systems A/S. Together, they produce a total installed capacity – the maximum amount of electricity that a generating station can produce – of 894 megawatts. Of this, Boralex will acquire 447 megawatts.
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