Canada's Boralex Continues to Develop Renewables Portfolio

Researched by Industrial Info Resources (Sugar Land, Texas)--Canadian renewable energy company Boralex (Kingsey Falls, Quebec) has 2.3 gigawatts (GW) worth of wind and solar generation and 1.05 GW of energy storage in development in North America, according to the company's first-quarter earnings presentation on May 10. Industrial Info is tracking almost $3 billion worth of projects from Boralex worldwide, including $1.72 billion in North America. Nearly one-third of the North American activity is attributed to two utility-scale projects in New York.

As part of its 2025 Strategic Plan, the company, which also has assets in Europe, aims to have a total installed capacity worldwide of 4.4 GW by 2025 and 10 to 12 GW by 2030; 45% of the planned capacity in 2030 would be in the U.S.

"It's a good start for 2023 as we continue to discipline the execution of our plan. We added 468 megawatts to our project pipeline," said Bruno Guilmette, executive vice president and chief financial officer of Boralex, in the company's first-quarter earnings conference call. "Our pipeline of projects and development in construction reached 6 gigawatts and a 96% increase over 2020, the reference date for our 2025 strategic plan."

Boralex's two utility-scale projects that are under development in New York include the proposed $350 million Fort Covington solar-plus-storage project in Franklin County. The project entails constructing a photovoltaic (PV) solar facility with a capacity of 250 MW, and a 77-MW battery energy storage system (BESS). Meanwhile, the proposed $150 million Newport Solar Plant in Marcy would feature 130 MW of solar generation. Both projects are expected to be commissioned in 2025. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can see reports for the Fort Covington and Marcy projects.

In its most-recent earnings press release, the company said its total first-quarter energy production jumped 22% year over year, in part due to the integration of five operational U.S. windfarms it acquired from EDF Renewables North America (EDF Renewables) (San Diego, California) in late 2022. EDF Renewables is the clean energy-generation unit of Électricité de France (EDF) (Paris, France).

Subscribers to the GMI Power Plant Database can click here to see plant profiles for the Hereford, Longhorn and Spinning Spur 3 windfarms in Texas and Milo and Roosevelt windfarms in New Mexico. The sites were commissioned between 2014 and 2016.

Among Boralex's European projects, construction of the $109.6 million Les Moulins du Lohan Windfarm in France is underway. The project involves utilizing 17 wind turbines from Vestas Wind Systems A/S (Aarhus, Denmark) to generate 64.6 MW of solar power.

Subscribers can click here for a full list of active projects attributed to Boralex.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).