08:39 AM EDT, 05/16/2024 (MT Newswires) -- Boralex ( BRLXF ) said Thursday that it secured 130 million pounds in long term financing for its 106-megawatt Limekiln wind farm in the UK, its largest project in Europe. The site is located near Thurso in Caithness, Scotland.

"This first project financing for Boralex ( BRLXF ) in the UK is an important step in our development in this promising market, which remains key to achieving the growth and diversification objectives of our 2025 Strategic Plan," said Bruno Guilmette, Boralex's ( BRLXF ) executive vice president and CFO, in a statement.

The project is expected to be commissioned by the end of 2024, Boralex ( BRLXF ) said.

Boralex's ( BRLXF ) share price jumped 7% to $31.40 yesterday after reporting a "substantial" increase in its net earnings for Q1.