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Boralex Announces an Agreement to Acquire Invenergy Renewables' Interests in 5 Wind Farms in Québec for $215 million, a $180 million Public Offering and a $45 million Private Placement
Boralex Announces an Agreement to Acquire Invenergy Renewables' Interests in 5 Wind Farms ...
About this update from Boralex Inc. Class A
[{"type":"text","content":"\n\n\n\nBoralex Announces an Agreement to Acquire Invenergy Renewables' Interests in 5 Wind Farms in Québec for $215 million, a $180 million Public Offering and a $45 million Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTRÉAL, June 20, 2018\n\n\n\n/THIS MEDIA RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\nKey Transaction Highlights\n\n\nAcquisition of interests in 5 wind farms in Québec totaling 201 MW of net installed capacity once closing conditions are met\n\nPPAs with Hydro-Québec Distribution expiring between 2032 and 2041\nWill increase net installed capacity in Québec to 568 MW\nSignificantly enhances Boralex's renewable power portfolio\n\nWill increase net installed capacity by 12% to 1,820 MW\nWill extend portfolio's weighted average PPA term to 14 year\nExpected to add $45M in annual EBITDA(A)1\nAccretive to Discretionary Cash Flow per share1\n\nMid single-digit accretion in 2019 and gradually increasing to high single-digit in or about 2022, combined with the acquisition of Kallista, which was completed on June 20, 2018\n4.8% increase in annual dividend per share to $0.66, which represents the second increase in 2018 for a total 10% increase in annual dividend per share\nBoralex increases its growth target\n\n2019 EBITDA(A)2 target increased from $405-$425M to $490-$510M \n_____________________________________1 See \"Other Non-IFRS Measures\" below. EBITDA(A) and Discretionary Cash Flow information provided on a Combined basis (\"Combined\") (previously referred to as proportionate consolidation).2 On a Combined basis and annualized run rate basis.\n\n\n\nMONTRÉAL, June 20, 2018 /CNW Telbec/ - Boralex Inc. (TSX: BLX) (\"Boralex\" or the \"Corporation\") is pleased to announce it has entered into binding agreements with affiliates of Invenergy Renewables LLC (\"Invenergy\") to acquire all of its economic interests in 5 wind farms in Québec totaling 201 MW (the \"Projects\") of net i...