Boralex wins CfD support for 108-MW Scottish wind project

Boralex Inc (TSE:BLX) has been successful in the British government’s fifth Contracts for Difference (CfD) auction, securing a 108-MW wind project in the Scottish Highlands.

The Canadian renewables developer said on Friday that its Limekiln Wind Farm is among the winning projects in the competitive round. As a result, it was awarded a 15-year contract at a strike price of GBP 52.29 (USD 65.18/EUR 60.9) per MWh in 2012 prices, which it estimates to be equivalent to GBP 72.35/MWh in July 2023 prices.

“This strike price provides us with the certainty of a stable income and helps to secure project finance,” said Esbjorn Wilmar, Country Manager at Boralex.

To be installed near Thurso, in the north of Scotland, the Limekiln wind park will be equipped with 24 Vestas V136-4.5 MW turbines and is planned to be fully commissioned by 2025. Enabling works have already been completed and the construction of the onsite substation and grid connection is currently in progress.

The Limekiln project was originated by a 50/50 joint venture between Boralex and Infinergy. Last summer, Boralex acquired its partner’s 338-MW development portfolio of wind, solar and energy storage projects in the UK and took full control of the JV, thus becoming the sole owner of Limekiln.

Projects totalling 3.7 GW and led by solar were successful in the UK’s fifth CfD auction.

(GBP 1.0 = USD 1.245/EUR 1.165)

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