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Canadian company buys area wind farm interest

Boralex, Inc., a Quebec-based global renewable energy company, has purchased a 50% share in five wind farms located in New Mexico and Texas. The wind farms were owned by EDF Renewables. The sale on Dec. 28 was for about $249.8 million, officials said.

Boralex produces renewable wind, solar, hydroelectric and thermal energy in Canada, France and the United States, according to its website.

EDF Renewables North America, based in San Diego, is "the global renewable energy affiliate of the Group," which develops, builds and operates renewable power plants, as stated on its website.

The two New Mexico wind farms are in Milo, which is outside of Rogers, and Roosevelt, which is at 2201 S Roosevelt Rd Y near Elida, according to Boralex.

Milo 50 MW located in Roosevelt County was commissioned in 2016.

This project includes 25 Vestas V100/2MW wind turbines.

Roosevelt 250 MW Located in Roosevelt County was commissioned in 2015 and has a power purchase agreement with Southwest Public Service Company expiring in December 2035. This project includes 125 Vestas V100/2MW wind turbines.

The Texas wind farms are in parts of Deaf Smith, Floyd, Briscoe and Oldham counties.

Darren Suarez, vice president of public affairs and communications for Boralex, explained why the company acquired its share of the New Mexico wind farms.

"We see New Mexico as an opportunity to be engaged with that community and long term as a potential opportunity for future development," Suarez said.

"This acquisition will increase Boralex's total installed capacity across the globe to 2.9GW," he added.

"As a builder, owner and operator of renewable energy production facilities, our core purpose is to provide clean renewable energy," he said in an email. "On a local basis, Boralex is committed to helping maintain and operate the Milo and Roosevelt wind farms in a manner that will help New Mexico meet its climate objectives as outlined in the Energy Transition Act's (ETA)."

"The ETA sets a statewide renewable energy standard of 50 percent by 2030 for New Mexico investor-owned utilities and rural electric cooperatives and a goal of 80 percent by 2040, in addition to setting zero-carbon resources standards for investor-owned utilities by 2045 and rural electric cooperatives by 2050," as stated in a press release by Gov. Michelle Lujan Grisham's office issued in 2019.

"The law transitions New Mexico away from coal and toward clean energy, ensuring greater renewable energy production and reducing costs for consumers, and provides tens of millions of dollars of economic and workforce support for communities impacted by coal plant closures, as well as the development of renewable replacement power in San Juan County."

Boralex purchased EDF's 50% interest in the wind farms, according to an EDF press release. The five operating wind power projects total 447 megawatts (MW) in Texas and New Mexico.

"EDF Renewables put into service all five projects totaling 894 MW with commissioning dates between 2014 and 2015," as stated in the release. "The sale of assets represents an integral part of EDF Renewables' business model to facilitate a balanced portfolio and advance funding for new project development."

Sandi Briner, vice president of corporate communications, said: "EDF Renewables divested 50% share in these projects in 2015. This transaction with Boralex completes our full divestment."

The other 50 percent of the wind farms is owned by Axium Infrastructure, Inc., a New York, NY-based company, which purchased it in June, according to an Axium press release.

"This transaction offers Axium the opportunity to further expand its renewables footprint in North America, which is now comprised of over 120 wind, solar and hydro projects totaling over 8 GW of aggregate capacity," said Thierry Vandal, President of Axium Infrastructure US Inc. in the release. "The investment will also build upon our existing relationship with a strong operating partner and provide further geographic and technological diversification for our investors as Axium continues to contribute to the clean energy transition in North America..."

 
 
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