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Boralex Completes Acquisition of Invenergy Renewables' Interests in 5 Wind Farms in Québec
Boralex Completes Acquisition of Invenergy Renewables' Interests in 5 Wind Farms in Qu...
About this update from Boralex Inc. Class A
[{"type":"text","content":"\n\n\n\nBoralex Completes Acquisition of Invenergy Renewables' Interests in 5 Wind Farms in Québec\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, Sept. 14, 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 MONTRÉAL, Sept. 14, 2018 /CNW Telbec/ - Boralex Inc. (TSX: BLX) (\"Boralex\" or the \"Corporation\") is pleased to announce that it has completed the acquisition (the \"Acquisition\") of all of the economic interests of Invenergy Renewables LLC (\"Invenergy\") in 5 wind farms in Québec (the \"Projects\"), totaling 201 MW of net installed capacity, for a total cash consideration of $215 million, subject to post-closing adjustments to the purchase price under the acquisition agreements.\nLocated in the MRC d'Avignon and the MRC des Appalaches in Eastern Québec, the Projects were commissioned between March 2012 and December 2016. They comprise state-of-the-art Enercon and GE turbines. The Projects benefit from long-term Power Purchase Agreements (\"PPAs\") with Hydro-Québec Distribution expiring between 2032 and 2041.\nThe Acquisition is expected to strengthen Boralex's leading position in the Canadian renewable energy sector and is consistent with the Corporation's proven acquisition strategy. The Acquisition adds 201 MW of clean energy to Boralex's asset portfolio, increasing the Corporation's net installed capacity by nearly 12% to 1,820 MW while extending its portfolio's weighted average PPA term to 14 years. \"This acquisition highlights the strength of our acquisition capabilities in this competitive marketplace where Boralex captures operational synergies,\" said Patrick Lemaire, President and Chief Executive Officer at Boralex. \"This acquisition contributes to our objective of sustainable and predictable cash flow growth for our investors while supporting the generation of electricity derived from renewable energy for thousands of homes in Québec.\"\nBoralex becomes the new ma...