Boralex Closes Financing For $56M French Wind Project

Law360, New York (January 24, 2013, 12:13 PM EST) -- Boralex Inc. has completed a long-term financing agreement for a $56 million wind project in France with a consortium of French banks, the Canadian alternative energy and power company said Thursday.

The Montreal-based company said its European subsidiary, Boralex Europe SA, closed the financing deal with French lenders OSEO, Credit Cooperatif Group and Credit Mutuel Arkea SA. Boralex received a 15-year loan for roughly €33 million ($44.1 million), about 77 percent of the total investment in the project.

The financing covers roughly 26 megawatts of the...
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