Boralex Inc. plans to exit a consortium that submitted a bid to the French state in the Dunkirk Offshore wind farm tender, saying it no longer satisfies its investment criteria amid changes in the tender's competitive conditions and risk profile.
The company will exercise its option to sell its participation in the project to its current partners, after the tender is definitively awarded and once it is able to under the terms and rules, according to a March 18 news release.
Following its exit, Boralex will continue to assist in the development of the project.
Separately, Boralex said it is working with various partners to restart work on the Moulins du Lohan wind facility, following receipt of the Administrative Court of Appeal of Nantes' decision that was in line with the conclusions of the Public Rapporteur.
The Administrative Tribunal of Rennes canceled construction permits for the 51-MW project in July 2017, based on its subjective assessment of landscape damage to the Lanouée forest.
Boralex said its counterpart could file an appeal in cassation to the Council of State.