(Montreal) Boralex expands its footprint in the United States: the Quebec renewable energy producer announced Thursday that it had completed the acquisition of EDF Renewables North America’s interest in five wind farms in Texas and New Mexico.
These five wind farms have a total installed capacity of 894 MW, and the interest acquired from EDF represents half of this capacity, Boralex said in a press release.
According to the company, the acquisition price net of cash and certain production tax credits receivable is C$339.7 million (US249.8 million), “subject to certain post-purchase adjustments. fence “. Boralex indicates that it will finance this transaction “with currently available cash”.
The wind farms, built by EDF Renewables, a subsidiary of the French company EDF, were commissioned between 2014 and 2016. Three of them have “well-structured” long-term electricity supply contracts with well-defined buyers. established,” said Boralex. “The other two wind farms are in strong and stable free markets. »
The renewable energy producer, whose head office is in Kingsey Falls, specifies that with this acquisition, Boralex is entering the markets of the “Electric Reliability Council of Texas” and the “Southwest Power Pool”. It will also, according to Boralex, “balance its current combination of solar and hydroelectric power generation in the United States”.
In November 2020, Boralex announced that it was becoming the majority shareholder of seven wind farms in California, Alabama and Indiana. The bill was CAN 283 million, according to the terms of the agreement with Centaurus Renewable Energy and other minority partners.
Boralex’s price on the Toronto Stock Exchange, which was $39.88 at the close on Wednesday, reached $41.55 by midday Thursday, the day of the announcement. The stock finally closed Thursday at $40.94, up 1.06 points (2.66%).