Boralex has finalised the acquisition of a 50 per cent stake in five functioning wind farms totaling 894 MW in the US from EDF Renewables. These projects include the 50 MW Milo and 250 MW Roosevelt developments in New Mexico, as well as the 200 MW Hereford, 200 MW Longhorn, and 194 MW Spinning Spur projects in Texas. Each location was put into service between 2014 and 2016, and all of them feature Vestas turbines, with Hereford also comprising machines from GE Renewable Energy.
Longhorn has a 3-year hubsettled power purchase agreement (PPA), whereas Spinning Spur and Roosevelt have 13-year busbar PPAs. Milo and Hereford are both complete merchant ventures. Three of the wind farms have long-term PPAs that are well structured with well-established off-takers. The PPAs do not contain fixed shape hedges that have caused recent difficulties in these markets. The other two wind farms are in strong and stable merchant markets, and with the current condition of inflation, some merchant exposure will be complementary to the PPAs.
In June 2022, the New York State Energy Research and Development Authority (NYSERDA) selected five Boralex solar projects with a cumulative capacity of 540 MW and a battery capacity of 77 MW, as part of its 2021 solicitation for utility-scale renewable energy certificates. The solar farms, which are spread across upstate New York, have the potential to generate more than 1 TWh of renewable energy every year, enough to power more than 141,200 homes.
