Boralex has announced an agreement to acquire Wind2, a UK-based renewable energy developer specialising in onshore renewable energy projects. The financial terms of the deal were not disclosed in the sources.
Wind2 was founded in 2016 and develops onshore wind projects, solar farms and energy parks across Scotland, Wales and England. According to the source, Boralex acquires a development platform of approximately 350 MW of well-advanced wind projects. The transaction also integrates the Wind2 teams across its two UK offices, which the source says significantly expands Boralex's UK workforce and development capabilities.
Burges Salmon advised the shareholders of Wind2 on the acquisition. The team was led by corporate partner Jonathan Eves and director Bethan Penrhyn-Jones, with support from the firm's real estate, projects, planning and tax teams.