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Boralex Acquires Controlling Interest in Seven US Solar Plants

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Boralex has closed on the previously reported acquisition of the controlling interests in a portfolio of seven solar plants located in the United States, for a purchase price of $215.6 million after certain adjustments made as per the acquisition agreements.
Boralex Acquires Controlling Interest in Seven US Solar Plants
Courtesy of Boralex

The seven solar plants have a total gross installed capacity of 209 MWac, whereby the acquired interests result in a net installed capacity of 118 MWac to Boralex. Since Boralex will control such solar assets, the financial information with respect thereto will be reported on a consolidated basis.

The solar plants, located in California (5), Alabama (1) and Indiana (1), were commissioned between 2014 and 2017 and benefit from long-term Power Purchase Agreements with the Regents of the University of California, Alabama Power Company, PG&E, Southern California Edison, City of Palo Alto, and Indianapolis Power & Light. Alabama Power has not exercised the right of first refusal it had regarding the Lafayette solar plant.

Following the transaction, Boralex’s total installed capacity worldwide stands at 2,455 MW.

Boralex 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 Boralex is recognized for its solid experience in optimizing its asset base in four power generation types — wind, hydroelectric, thermal and solar.

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