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Boralex announces the closing of the Kallista Energy Investment SAS portfolio acquisition
Boralex announces the closing of the Kallista Energy Investment SAS portfolio acquisition ...
About this update from Boralex Inc. Class A
[{"type":"text","content":"\n\n\n\nBoralex announces the closing of the Kallista Energy Investment SAS portfolio acquisition\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\nCanada NewsWire\nMONTRÉAL, June 20, 2018\n\n\n\nMONTRÉAL, June 20, 2018 /CNW Telbec/ - Boralex Inc. (TSX: BLX) (\"Boralex\") today announced the closing of the transaction, announced on April 20, 2018,  to acquire the Kallista Energy Investment SAS portfolio, consisting of 163 MW in operation, 10 MW under construction and a 158 MW pipeline, for approximately €129 million (C$198 million).\n\nThe cash-only consideration was drawn down under Boralex's existing revolving credit facility. In order to finance this acquisition over the longer term, Boralex will use the $100 million available under Tranche B of the subordinated credit facility put in place on March 29, 2018. Tranche B is expected to be drawn down in July 2018.\n\n\"I'm delighted with the closing of this transaction,\" said Patrick Lemaire, President and Chief Executive Officer of Boralex. \"Boralex has strengthened its position as France's largest independent wind power producer with an installed capacity of 772 MW, while significantly improving its growth prospects in light of the very ambitious renewable energy development goals set by the French government.\"\n\n\"With this acquisition, Boralex stands to benefit from numerous operational synergies, while fully capitalizing on its unique and integrated model as developer, prime contractor and operator of its projects,\" said Patrick Decostre, Vice-President and General Manager, Boralex Europe. \n\nThe addition of the 15 projects acquired in connection with this transaction increases Boralex's total installed capacity in France to 799 MW.\n\nAbout Boralex\n\nBoralex develops, builds and operates renewable energy power facilities in Canada, France, the United Kingdom and the United States. A leader in the Canadian market and France's largest independent producer of onshore wind power, the Corporation is recognized for its solid experien...