Boralex has closed the acquisition of a 49% equity stake held by the Caisse de dépôt et placement du Québec (“CDPQ”) in three wind farms in Quebec, Canada.
Boralex paid a cash consideration of $121.5m (€99.63m) to CDPQ, which may be supplemented by a conditional consideration of up to $4m (€3.27m) subject to the settlement of certain future conditions that need to be met.
The power provider already owns a 51% in the farms which have a total capacity of 296MW.
Its new stake is expected to contribute a further $31m (€25.34m) to combined EBITDA.
Located in the Avignon RCM in Gaspésie and the Appalaches RCM in eastern Quebec, the farms are equipped with Enercon turbines.
They hold long-term PPAs with Hydro-Québec Distribution, expiring between 2032 and 2033 with a weighted average remaining contract duration of nearly 12.5 years.
Boralex’s totaled installed capacity now stands at 2212MW.