Boralex Inc. ('Boralex' or the 'Company') (TSX: BLX) and Vestas France are pleased to announce the signing of a 15-year 'fleet' service contract.
The contract applies to the assets in Boralex's portfolio in France that are equipped with Vestas wind turbines. The agreement began June 1, 2021.
Boralex, a renewable energy pioneer and the largest independent producer of onshore wind power in France, will use the expertise of Vestas France to optimize its sites equipped with wind turbines designed by the Danish manufacturer, representing approximately 300 MW in operation.
This contract will enable Boralex to benefit from competitive operating costs and to meet production commitments in line with its optimization strategy. It will also allow optimal allocation of Boralex's maintenance teams to its 1 GW of operational assets while ensuring availability, maximum efficiency and maintaining the connection to our host regions.
Boralex's teams overseeing operational excellence will continue to track the performance of all of the company's facilities in France, including those serviced by Vestas.
'Over the past 20 years, our teams have built upon their skills and expertise in the maintenance of our assets to make Boralex a leader in the wind power industry. These decades of experience have led us to implement, in partnership with the teams at Vestas France, a high value-added maintenance strategy that will enable us to combine agility and performance within the framework of the Optimization direction in our 2025 Strategic Plan,' said Nicolas Wolff, Vice President and General Manager of Boralex, Europe.
'We are delighted to have signed this long-term contract with Boralex. We have always worked on our products and services with a focus on safety, operational performance and lower energy costs. This contract is in line with Vestas' strategy and our organization's presence in France, which we have strengthened in recent years with new maintenance centres, a second logistics platform and a high-level internal training centre, to provide competitive, long-term, turnkey maintenance services,' said Benoit Gilbert, Director of Service, Western Europe, for Vestas France.
Vestas has operations in 83 countries and services 113 GW of on- and offshore wind farms. The company is currently the world's leading wind turbine manufacturer and has a service portfolio of over 5.7 GW of installed capacity in France.
At Boralex, we have been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France's largest independent producer of onshore wind power, we also have facilities in the United States and development projects in the United Kingdom. Over the past five years, our installed capacity has more than doubled to 2.5 GW. We are developing a portfolio of wind, solar and storage projects of more than 2.7 GW, guided by our values and our corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, our discipline, our expertise and our diversity, we continue to be an industry leader. Boralex's shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.