Boralex Sketches Dunkirk Exit Plan

Boralex is planning to sell its interest in the Dunkirk offshore wind project in France to its Vents de Dunkerque consortium partners if the bid is successful.

Boralex said that, following a review amid changes in the tender’s competitive conditions and risk profile, its interest in the consortium no longer satisfies the company’s investment criteria.

The company plans to sell the stake to other consortium members immediately after the tender is awarded and once in accordance with France’s rules and agreements governing the consortium.

Despite the decision, Boralex will remain part of the joint venture until the sale of stakes and will continue to assist in project development both as a member and later as a non-member.

To remind, Boralex, Eneco, Diamond Generating Europe Limited (DGE) and Van Oord established the Vents de Dunkerque consortium in January with an aim to submit a bid for the Dunkirk project.

France launched the tender for the development and operation of the project in mid-November last year, following a delay of several months.

The Dunkirk project, part of the country’s third round of tenders, will have a capacity of between 400MW and 600MW. It will be installed at a 70km2 square area some 10km off the coast.