| Boralex: Exclusivity agreement to acquire a portfolio of approximately 350 MW of wind power in France | |
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MONTRÉAL, Dec. 16, 2015 /PRNewswire/ - Boralex Inc. ("Boralex" or the "Corporation") (BLX.TO) has entered into an exclusivity agreement with private developers to acquire a portfolio of wind power projects of nearly 350 MW located in France. The closing of the transaction would allow Boralex to acquire by 2018: - 79 MW of ready-to-build projects (with commissioning dates scheduled during 2017 and 2018);
- 159 MW of projects at an advanced stage of development; and
- 118 MW of projects at preliminary stages of development.
This acquisition combined with projects currently under development by Boralex will bring Boralex's portfolio of development projects in France to nearly 850 MW. Thus, the projects set to be commissioned over the next few years will be added to the 500 MW currently operated by Boralex in France. "With this transaction, our position as France's leading independent producer will be strengthened while confirming the French market as the cornerstone of our growth in the coming years," stated President and Chief Executive Officer Patrick Lemaire. Boralex continues its discussions with the sellers during this exclusivity period to sign a purchase agreement as soon as possible (the "Agreement"). The completion of this transaction is subject to the negotiation of the Agreement and related documentation as well as conditions customary for this type of transaction. The ready-to-build projects will require investments of about €150 million (CAN$ 225 million) and will benefit from the regulatory rate, including the projects at an advanced stage of development. |
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CODE : BLX.TO |
ISIN : CA09950M3003 |
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Boralex is a producing company based in . Boralex is listed in Canada and in Germany. Its market capitalisation is CA$ 2.2 billions as of today (US$ 1.7 billions, € 1.5 billions). Its stock quote reached its lowest recent point on December 22, 2006 at CA$ 10.00, and its highest recent level on March 28, 2024 at CA$ 28.71. Boralex has 75 870 000 shares outstanding. |