Boralex and the Innu got $ 608 million for Apuiat wind farm

Boralex and its Innu community partners at Parc éolien Apuiat S.E.C. (Innu) have received a $608 million investment for the 200 MW Apuiat wind farm on Quebec’s North Shore. Desjardins Group is providing long-term financing for the wind farm. CaixaBank, DZ Bank AG, and the Korea Development Bank are the additional financial institutions. The construction loan is $465.3 million, which will be changed to a term loan with a 25-year term after the wind farm starts operations in the second half of next year.

Moreover, a short-term loan of $142.7 million will also be given. It will have a bridge loan and a letter of credit to finance some costs incurred during construction. Furthermore, 34 turbines will power the 200 MW Apuiat wind farm. Construction on the project is scheduled to begin in the winter of the current year and is planned for commissioning next December.

In December 2022, Boralex 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 included 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.