Canadian energy company Boralex is to increase its French wind portfolio by 163MW with the acquisition of outstanding shares in Kallista Energy Investment for €129.4m.
The deal also includes a 10MW ready-to-build project, 158MW of wind farms in development and the assumption of €94m in project debt.
Boralex’s total wind portfolio in France will rise to 772MW and 1619MW globally once the acquisition is completed.
The Canadians will use a recently enhanced revolving credit facility to pay for the deal.
The transaction is expected to close by late June, once regulatory approvals and other customary closing conditions have been met, Boralex said.
Boralex president and chief executive Patrick Lemaire said: “This transaction is very strategic and beneficial for Boralex and will strengthen our position as France’s largest independent producer of onshore wind power and allow us to take full advantage of our unique and integrated model as developer, prime contractor and operator of our projects.”
Image: Boralex
Boralex expands French footprint
By EBS