Rallying local support for renewable energy projects through crowdlending

Aerial picture of Plaine de Nange, a 29megawatt hybrid fixed and floating solar farm located in the Yonne department, where local residents helped finance the project through non-convertible fixed interest rate bonds.

Background

Founded over 30 years ago, Boralex Inc. is an independent renewable energy producer active in Canada, France, the UK and the USA. In France, where it has operated for nearly three decades, Boralex has become one of the country’s leading independent onshore wind producers and partnered with EIP, through EIP-managed funds, to support its continued growth.

With 85 wind and solar assets across France, Boralex is positioned to make a meaningful contribution to the country’s growing electricity demand over the coming decades. Across the lifecycle of these assets, maintaining constructive, long-term relationships with local communities plays an essential role.

Action

Boralex engages with local communities across many facets of its projects, from development to operations, taking into account the specific characteristics of each area. A few years ago, Boralex also started introducing a participative financing initiative that enables local residents to participate financially in some of its projects.

Through a crowdlending platform, residents in proximity to select wind and solar projects have the opportunity to finance a portion of construction costs via non-convertible bonds with fixed annual interest rates. As an example, two crowdlending campaigns in the first half of 2026 offered a 7% gross fixed annual interest rate, higher than a typical French savings account. Investments started at EUR 10, so that

everyone could contribute according to their financial capability. These offers are typically first open to residents of the project’s department and subsequently extended to the wider region.

For example, in the Yonne region in central France, residents can participate in the financing of a photovoltaic project developed on a former gravel pit, combining ground-mounted and floating solar installations.

As of June 2026, Boralex has carried out such participative financing on eight projects of a combined capacity of 148 megawatt, raising EUR 1.1 million in total.

Outcome

This approach takes community engagement one step further by enabling residents to directly participate in local energy transition projects while generating economic benefits for the surrounding area. Crowdlending initiatives have therefore become an important element of Boralex’s broader approach to stakeholder engagement, transparency and long-term local integration.

Note: Case study for illustration purposes only. Holdings are subject to change, this does not constitute investment advice to buy or sell the presented securities.