Competitive Generator Pivots To Begin "Directly" Supplying End-Use Customers Under New Strategic Plan
June 17, 2021 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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As part of an updated strategic plan and new corporate objectives for 2025, Boralex Inc. announced that it would, "[d]evelop and expand our existing customer base to directly supply electricity-consuming industries interested in reducing their carbon footprint."
The U.S. will be a focus for this new strategy of "directly" supplying customers. In a recent annual report, Boralex cited two recent PPAs with large end-use customers in France as a significant step in deploying this part of its strategic plan, "for
which the sale of green energy to companies is a major pillar."
In its recent annual report, Boralex had said, "Changes are also expected with the
development of tendering procedures and negotiating energy sales contracts directly with electricity-consuming companies."
"The Corporation has deployed sales teams in France and
the United States to serve a wider customer base. The
main objective is to sign energy sales contracts directly with
electricity-consuming commercial or industrial companies
(corporate PPA), as well as the gradual addition of
complementary services offered to energy transmission
networks and large-scale electricity consumers," Boralex said in the recent annual report
Other highlights of Boralex's new strategic plan include:
• Significantly increase the share of solar power in the asset and project portfolio and make a breakthrough in storage
• Position the United States as its primary market for development, and diversify its geographic presence in Europe and other U.S. states
• Optimize capital structure with a greater share of corporate financing, including sustainable financing
Boralex announced its goal to double the installed capacity under management from 2.2 GW at the end of 2020 to 4.4 GW by 2025 and reach 10–12 GW by 2030
Concerning growth, Boralex's strategic plan calls for the following:
• Accelerate organic growth to maximize future value creation across our markets
• Make the United States our priority market and extend our European presence by targeting a few additional growth markets
• Complement organic growth with targeted acquisitions
Boralex said that it will also, "accelerate the development of our power marketing skills to optimize our contract portfolio."