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06 Jul 2026

A&O Shearman advises Boralex on €1.453 billion financing for French operations

"A&O Shearman advised renewable energy producer Boralex on a €1.453 billion financing to support its activities and development projects in France. The transaction consolidates a multi-borrower structure into a single-platform facility and includes an €811m refinancing loan, a €450m capex loan, a €100m revolving facility and €92m for DSRF and VAT."

A&O Shearman advised renewable energy producer Boralex in connection with a €1.453 billion financing intended to support the company’s activities and development projects in France. The transaction enabled the largest independent onshore wind producer in France to move from a multi-borrower financing structure to a single-platform facility, providing greater flexibility to expand its development in the French market. The financing, totaling €1.453 billion, comprises an €811 million refinancing loan, a €450 million capex loan to finance development projects, a €100 million revolving credit facility, and a €92 million facility covering a debt service reserve (DSRF) and VAT financing. Boralex’s activities in France are held by Boralex Inc. and Energy Infrastructure Partners as co-shareholders. Boralex Inc. is a renewable energy producer active for more than 35 years across wind, solar, hydroelectric and battery storage. A&O Shearman represented Boralex with a team composed by: Tzvétomira Pacheva (partner); Dorian Le (senior associate); Anas Benmalek (senior associate); Wendy Au (senior associate); Alassane Diedhiou (associate); Jinho Lesage. Nadège Debeney (counsel) and Aziz Ben Hamida (associate) advised on international capital markets aspects. Alexandre Ancel (partner), Flora Léon-Servière (counsel), Astrid Achard Hoffman (senior associate) and Alix Benech worked on corporate/M&A aspects. Mathieu Vignon (partner) and Virginie Chatté (senior associate) advised on tax. Romaric Lazerges (partner) and Pauline Choplin (senior associate) handled regulatory matters. Pierre Schleimer (partner), Diana Konrad (counsel) and Nasser Abouquir (associate) acted on Luxembourg law matters.
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