MONTRÉAL — Boralex has commissioned its Les Cigalettes solar power station located in the French communes of Montfort and Peyruis. Construction of its second power station, with an installed capacity of 10 MW, was completed on time and on budget.
“With solar energy costs falling and even closing in on traditional-energy costs, commissioning our second solar asset in France is proof of Boralex’s intention to pursue solar development,” stated Boralex President and CEO Patrick Lemaire.
The photovoltaic solar power station, located in France’s Alpes de Haute-Provence region, is covered by a 20-year contract with Électricité de France and will have an annual average production of 15 GWh. Construction of Les Cigalettes required investments of almost €11 million, 85% of which originated from bank financing over a term of nearly 18 years with Crédit Industriel et Commercial (“CIC”).
Boralex develops, builds and operates renewable energy power facilities in Canada, France and the United States. A leader in the Canadian market and France’s largest independent producer of land-based wind power, the Corporation is recognized for its solid experience in optimizing its asset base in four power generation types — wind, hydroelectric, thermal and solar. Boralex ensures sustained growth by leveraging the expertise and diversification developed over the past 25 years. Boralex’s shares and convertible debentures are listed on the Toronto Stock Exchange under the ticker symbols BLX and BLX.DBA, respectively.