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Boralex announces closing of the acquisition of CDPQ's 49% equity stake in 3 Quebec wind farms, with a 296 MW installed capacity
Boralex announces closing of the acquisition of CDPQ's 49% equity stake in 3 Quebec wind ...
About this update from Boralex Inc. Class A
[{"type":"text","content":"\n \n \n \n Boralex announces closing of the acquisition of CDPQ's 49% equity stake in 3 Quebec wind farms, with a 296 MW installed capacity\n \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 \n \n \n \n \n \n MONTREAL\n \n ,\n \n Dec. 2, 2020\n \n /CNW Telbec/ - Boralex Inc. (\"Boralex\" or the \"Corporation\") (TSX: BLX) is pleased to announce that it has closed the acquisition of the previously announced 49% equity stake held by the Caisse de dépôt et placement du Québec (\"CDPQ\") in 3 wind farms in\n \n Quebec\n \n , already 51% owned by Boralex. CDPQ's 49% equity stake represents 145 MW net installed capacity and the three wind farms represent a total capacity of 296 MW. Located in the Avignon RCM in Gaspésie and the Appalaches RCM in eastern\n \n Quebec\n \n , these farms are equipped with Enercon turbines and benefit from long-term power purchase agreements (\"PPAs\") with Hydro-Québec Distribution, expiring between 2032 and 2033 with a weighted average remaining contract duration of nearly 12.5 years.\n \n \n Boralex paid a cash consideration of\n \n $121.5 million\n \n to CDPQ, which may be supplemented by a conditional consideration of up to\n \n $4 million\n \n subject to the settlement of certain future conditions that need to be met. Boralex's totaled installed capacity now stands at 2,212 MW.\n \n \n \n Highlights of the acquisition\n \n \n \n \n Acquisition price:\n \n $121.5 million\n \n in cash paid at closing and an additional amount of up to\n \n $4 million\n \n after closing, subject to the settlement of certain conditions that need to be met;\n \n \n Adds 145 MW net power to Boralex's installed capacity;\n \n \n Long-term contracts expiring between 2032 and 2033 with an average remaining duration of almost 12.5 years;\n \n \n Additional annual contribution of the wind farms to Boralex's results:\n \n \n \n \n $31 million\n \n to combined EBITDA representing the acquisition of CDPQ's 49% stake;\n \n \n \n $62 million\n \n to EBITDA under IFRS representing 100% of EBITDA for wind farms that will now be consolidated in the Cor...