Boralex sells stake in Vents de Dunkerque bidding consortium

Boralex has announced its plan to withdraw from the Vents de Dunkerque consortium by selling its interest to the other members. The consortium is vying for the 600 MW offshore wind project off the coast of Dunkirk, northern France. The company has decided after reviewing the changes in the tender's competitive conditions and risk profile, that its interest in the consortium no longer satisfies its investment criteria.

Vents de Dunkerque consortium is comprised of Boralex, Eneco,Van Oord and Diamond Generating Europe, a unit of Mitsubishi Corp. Boralex will exercise the option immediately after the tender has been definitively awarded. The company will stay as a member until its shares will be sold to its partners in the consortium pursuant to the option and will continue to participate in the development of the project following its exit.

The tender results are expected in mid-2019, with the goal of commissioning the wind farm in 2022.