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Boralex provides an update on the Dunkirk and Moulins du Lohan projects in France
Boralex provides an update on the Dunkirk and Moulins du Lohan projects in France ...
About this update from Boralex Inc. Class A
[{"type":"text","content":"\n\n\n\nBoralex provides an update on the Dunkirk and Moulins du Lohan projects in France\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTRÉAL, March 18, 2019\n\n\n\nMONTRÉAL, March 18, 2019 /CNW Telbec/ - On March 15, 2019, a consortium which Boralex Inc. (\"Boralex\" or the \"Corporation\") (TSX: BLX) is part of submitted a bid to the French state in the Dunkirk Offshore Wind Farm tender. Boralex has determined, after a careful review amid changes in tender's competitive conditions and risk profile, that its interest in the consortium no longer satisfies its investment criteria.\nThrough the Joint Venture Agreement entered into with the other members of the consortium, Boralex has an option to sell its participation in the project to its current partners. Therefore, Boralex will exercise its option to sell its interest to the other members of the consortium immediately after the tender being definitively awarded and once it is able to in accordance with the terms of the option and in compliance with the tender and French state rules and the agreements governing the consortium.\nBoralex will remain a party to the consortium until it has sold its interest in the project to the other members of the consortium pursuant to the option. However, Boralex will continue to assist in the development of the project, both as a member of the consortium and thereafter as a non-member. Accordingly, the consortium continues to strongly believe in the prospects and the success of this bid for this very important project for the French Energy Transition.\nMoulins du Lohan \nOn March 5th, Boralex received with satisfaction the decision made by the Administrative Court of Appeal of Nantes in line with the conclusions of the Public Rapporteur concerning a project that was interrupted in June 2017. The Moulins du Lohan project is the result of 10 years of development efforts.\nThis is an important decision that confirms a truly exemplary project for the territory in terms of environment, energy and social benefit. It is also an important decisi...