TSX:BLX - Post Discussion
Post by
retiredcf on Jul 10, 2023 1:02pm
RBC
July 10, 2023
Boralex Inc.
Awarded 40 MW of wind capacity in latest French renewable RFP
TSX: BLX | CAD 35.02 | Sector Perform | Price Target CAD 42.00
Sentiment: Neutral
Our Take
We expect the project awards will have a neutral impact on the shares of BLX due to the size of the award (40 MW) and frequency (twice a year) of the French renewable RFPs. We generally expect BLX to be awarded renewable projects in France annually given the size of its development pipeline.
Details
Boralex announced that two of its projects, totalling 39.7 MW, have been selected in the latest onshore wind RFP in France. The projects will benefit from a 20-year PPA, and management highlighted that the company has ~1.9 GW of wind and solar projects in France at various stages of development.
We note that France awarded a total of 76 projects, totalling 1,156 MW (versus a target 925 MW), in the latest RFP at an average price of €85/MWh. The RFP is part of an energy procurement plan where France intends to hold renewable RFPs twice a year through 2026.
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