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Apr 20, 2018

Boralex signs deal to buy French wind power company Kallista Energy Investment

Wind power

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MONTREAL - Boralex Inc. has signed a deal to acquire wind power company Kallista Energy Investment SAS from Ardian Infrastructure in a move to grow its operations in France.

The Canadian power producer has agreed to pay $202 million and assume $146.7 million in project debt.

The deal will give Boralex (BLX.TO) 163 megawatts of wind power projects in operation, a 10-MW ready-to-build project and a portfolio of projects totalling about 158 MW.

Boralex chief executive Patrick Lemaire says the deal will strengthen the company's position as France's largest independent producer of onshore wind power.

The deal is expected to close in or around late June.

Boralex has renewable energy power facilities in Canada, France, the United Kingdom and the United States.