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Boralex Announces the Acquisition of Enercon's Interest in the 230 MW Niagara Region Wind Farm, a $150 Million Public Equity Offering and a 7.1% Increase in its Annual Dividend per Share
Boralex Announces the Acquisition of Enercon's Interest in the 230 MW Niagara Region Wind ...
About this update from Boralex Inc. Class A
[{"type":"text","content":"\n\n\n\nBoralex Announces the Acquisition of Enercon's Interest in the 230 MW Niagara Region Wind Farm, a $150 Million Public Equity Offering and a 7.1% Increase in its Annual Dividend per Share\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\nBoralex Announces the Acquisition of Enercon's Interest in the 230 MW Niagara Region Wind Farm, a $150 Million Public Equity Offering and a 7.1% Increase in its Annual Dividend per Share\nCanada NewsWire\nMONTRÉAL, Dec. 8, 2016\n\n\n\n/THIS MEDIA RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\nKEY TRANSACTION HIGHLIGHTS\n\n\nAcquisition of Enercon's interest in newly commissioned 230 MW wind farm in Ontario\n\nWill benefit from a 20-year feed-in tariff contract with Ontario IESO \nSupersedes previous announcement on November 2, 2016 under which Boralex announced its intention to exercise its option to acquire a 25% economic interest in NRWF \nSignificantly enhances Boralex's renewable power portfolio\n\nIncreases Boralex's net installed capacity by 21% to 1,338 MW \nExtends weighted average PPA term to 16 years \nDouble-digit accretion to 2017 discretionary cash flow per share \n7.1% increase in annual dividend per share to $0.60 \n2020 contracted capacity target increased from 1,650 to 2,000 MW\n \n\n\n\nMONTRÉAL, Dec. 8, 2016 /CNW Telbec/ - Boralex Inc. (TSX: BLX) (\"Boralex\" or the \"Corporation\") is pleased to announce it has entered into binding agreements with Enercon Canada Inc. (\"Enercon\") to acquire all of its economic interest in the 230 MW Niagara Region Wind Farm (\"NRWF\" or the \"Project\"), for a total cash consideration of $238.5 million, subject to adjustments under the acquisition agreements (the \"Transaction\"). \n\nExtending across the Regional Municipality of Niagara, the Township of West Lincoln, the Town of Wainfleet and Haldimand County in Ontario, NRWF was commissioned on November 2, 2016 and comprises 77 state-of-the-art Enercon E-101 turbines. Upon the closing of the Transaction, NRW...