Boralex Inc. announce that Boralex US Solar CIA, an entirely owned subsidiary of the Corporation, has entered into binding agreements with Centaurus Renewable Energy (CRE) to accumulate their controlling pursuits in seven photo voltaic crops, situated within the United States, for a purchase order value of US$216.5 million. CRE and different traders will retain sure non-controlling pursuits within the property leading to whole internet put in capability to Boralex of 118 MWac. The property profit from long-term Power Purchase Agreements (PPAs) with the Regents of the University of California, Alabama Power Company, PG&E, Southern California Edison, City of Palo Alto, and Indianapolis Power & Light, expiring between 2029 and 2046 with a remaining weighted common of greater than 21.5 years on the PPAs.
The property are comprised of the next:
• Lafayette photo voltaic plant (79 MWac) is situated in Chambers County, AL and the sponsor fairness is at the moment owned by CRE (59%) associates of Global Atlantic Financial Group (40%) and a minor investor (1%). Lafayette was commissioned in December 2017 and has a PPA in place with Alabama Power Company, expiring in December 2045, and has third-party tax fairness;
• Five Points photo voltaic plant (60 MWac) is situated in Five Points, CA and the sponsor fairness is at the moment owned by CRE (50%) and associates of Global Atlantic Financial Group (50%). Five Points was commissioned in October 2016 and has a PPA in place with the Regents of University of California, expiring in October 2041, and has third-party tax fairness;
• Kettleman photo voltaic plant (20 MWac) is situated in Kettleman City, CA and is at the moment owned by CRE (50%) and associates of Global Atlantic Financial 1. Kettleman was commissioned in August 2015 and has a PPA in place with the City of Palo Alto, expiring in August 2040, and now not has any third-party tax fairness;
• Frontier photo voltaic plant (20 MWac) is situated in Newman, CA and the sponsor fairness is at the moment owned by CRE (50%) and associates of Global Atlantic Financial Group (50%). Frontier was commissioned in July 2016 and has a PPA in place with the City of Palo Alto, expiring in July 2046 and has third-party tax fairness;
• Westlands photo voltaic plant (18 MWac) is situated in Huron, CA and is at the moment owned by CRE (65.5%) and associates of Global Atlantic Financial Group (32.5%) and a minority investor (2%). Boralex will purchase 50% of the Total Class B pursuits leaving CRE with 15.5%. Westland was commissioned in January 2014 and has a PPA in place with PG&E, expiring in February 2034, and doesn’t have any third-party tax fairness;
• Lancaster photo voltaic plant (three MWac) is situated in Lancaster, CA and is at the moment owned by CRE (100%). Lancaster was commissioned in December 2014 and has two PPAs in place with Southern California Edison, expiring in December 2034 and doesn’t have any third-party tax fairness;
• IMS photo voltaic plant (9 MWac) is situated in Indianapolis, IN and is at the moment owned by CRE (100%). IMS was commissioned in July 2014 and has a PPA in place with Indianapolis Power & Light, expiring in July 2029, and now not has any third-party tax fairness.
Boralex primarily based in Kingsey Falls, Quebec, Canada, is an influence producer whose core enterprise is devoted to the event, constructing, and operation of renewable vitality energy services.
(Source: Boralex – Image: Kettleman photo voltaic park, CA)

The publish BORALEX ACQUIRES INTERESTS IN SEVEN US SOLAR PLANTS appeared first on Energy Global News.

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