The Quebec company Boralex, which wants to double its production of renewable energies by 2025, closed on Monday the acquisition of the British company Infinergy, adding 338 MW to its production capacity.
Boralex is thus consolidating its presence in the United Kingdom by acquiring a company with which it has developed several renewable energy projects in recent years. Since 2017, the two companies have respectively owned 50% of a joint venture that produces and stores 232 megawatts (MW) from the wind and solar sectors.
Not only does the Kingsey Falls producer acquire the shares of this joint venture, but he becomes 100% owner of the portfolio held by Innergy, a company created almost 20 years ago which operates in the United Kingdom, the – Netherlands and Australia. The amount of the transaction was not disclosed.
Infinergy becomes Boralex’s new development platform in the United Kingdom. Through this transaction, the Infinergy teams join those of the Quebec producer. The current nine employees work from two regional offices, in Wimborne, England, and Edinburgh, Scotland.
“This transaction will allow us to accelerate organic growth in a high-potential market in addition to contributing to the geographic diversification of our activities, two key elements of our 2025 Strategic Plan,” said Patrick Decostre, p. -CEO of Boralex.
Boralex’s strategic plan calls for doubling its installed capacity worldwide by 2025 to reach 4.4 gigawatts (GW). The company plans to double its production capacity again between 2025 and 2030.
First independent producer of onshore wind power in France, the Quebec producer announced last week the commissioning of three wind farms with a power of 53 MW, bringing its production capacity in France to 1.1 GW.
In early June, Boralex won five solar projects in New York State in the United States totaling a capacity of 540 megawatt-peak (MWp) — a unit measuring the power of photovoltaic panels — as part of a call for tenders organized in 2021. This capacity will be added to that of seven solar parks in California, Alabama and Indiana recently acquired for 277 million Canadian dollars.