In 2009, Cube signed a partnership agreement with Boralex Inc, a Canadian renewable energy producer, to jointly own and operate wind farms in Europe. Boralex Europe developed, built, owned and operated wind farms in France, as well as a cogeneration plant and a photovoltaic (PV) plant. Revenues of the wind farms and PV plant were secured by long-term power purchase agreements, which had maturities of 15-20 years and included pre-agreed tariff formulas linked to inflation and therefore offered highly predictable revenue streams. Today, Boralex is France’s largest independent producer of onshore wind power.
Boralex Europe was fully realized in 2019.
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