EDINBURGH, UK, May 16, 2024 (GLOBE NEWSWIRE) — Boralex Inc. (“Boralex” or the “Company”) (TSX: BLX) has announced the development of a UK-based 106MW lime kiln wind power plant, the largest project in Europe. Power plant. The site is near Thurso in Caithness, Scotland.
Financing has been secured from National Westminster Bank PLC (NatWest) and Export Development Canada (EDC), with a total value of up to £130 million (CAD $222 million). NatWest and EDC will act as jointly mandated lead arrangers and co-financiers. NatWest also acts as a facility agent, security agent, hedge counterparty and account bank.
UK Treasurer General Tschewold Wierda said: “We are delighted to have achieved another significant milestone in the development of the Lime Kiln wind farm and are in an excellent position to commission the project by the end of 2024. We believe it will bring significant value to the wider Highlands region and we look forward to seeing it come to fruition.”
Bruno Guilmette, Executive Vice President and Chief Financial Officer, commented: “We are very pleased to have secured this high-quality financing for Boralex’s flagship project in the UK, the Lime Kiln Wind Farm. Our teams on both sides of the Atlantic completed this financing on optimal terms. We would like to congratulate Boralex on this first project financing in the UK, which is an important step in our development in this promising market. remains key to achieving the growth and diversification goals of our 2025 Strategic Plan.”
The Limekiln wind farm consists of 24 Vestas V136-4.5MW wind turbines with a blade tip length of 150 meters. For AR5 in 2023, the project secured a 15-year contract from the UK government for a difference of £52.29/MWh (amounts are in his 2012 prices, and in 2024 prices he is equivalent to £73.33/MWh) To do). The project is expected to begin by the end of 2024.
Elgar Middleton Infrastructure & Energy Finance LLP acted as financial advisor to Boralex.
Packed with local benefits
Apart from zero-carbon electricity, lime kilns also deliver social, economic and environmental benefits including biodiversity enhancement, including native tree plantations and peat restoration programmes, and community benefit funds of over £500,000 each. It also offers a complete package of benefits. Year representing the life of the project. Additionally, the project will provide local employment opportunities. More than 100 jobs will be directly supported during the construction phase of the site and more than 90 jobs will be created during its operations. Finally, the wind farm will provide enough electricity to meet the needs of around 100,000 UK homes. Average generation mix of UK power sources. For more information, please visit www.limekilnwindfarm.co.uk.
Cautionary Note Regarding Forward-Looking Statements
Some of the statements contained in this press release also include statements regarding future events and milestones of the project and are forward-looking statements that are based on current expectations within the meaning of securities laws. . Boralex believes that forward-looking statements, by their nature, involve risks and uncertainties, and that the results of, or the actions taken, indicated in or underlying these statements may be subject to risks and uncertainties. I would like to point out that it can be very different from, or affect the extent of, things. Regarding the realization of certain forward-looking statements. Unless we specify otherwise, forward-looking statements do not take into account the effect that may have on our activities, transactions, non-recurring items or other exceptional items that are announced or occur after the statements are made. Is not … There can be no guarantee as to the actual results, performance or achievements expressed or implied by forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Unless required under applicable securities laws, Boralex management undertakes no obligation to update or revise any forward-looking statements to reflect new information, future events or other changes.
About Boralex
For more than 30 years, Boralex has been making renewable energy accessible and affordable to everyone. As a market leader in Canada and the largest independent producer of onshore wind power in France, we also have facilities in the United States and development projects in the United Kingdom. Over the past five years, our installed capacity has more than doubled to over 3 GW. We have developed a portfolio of over 6.7 GW of wind, solar and energy storage projects, based on our values and Corporate Social Responsibility (CSR) approach. Boralex actively participates in the fight against global warming through profitable and sustainable growth. Our fearlessness, discipline, expertise and diversity continue to make us an industry leader. Boralex's shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.
For more information, visit boralex.com or sedarplus.com. Follow us on Facebook, Twitter, and LinkedIn.
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Source: Boralex Co., Ltd.
