On September 14, 2018, Boralex Inc., a Canadian leader in the development and operation of renewable energy facilities and France’s largest independent producer of onshore wind power, completed the acquisition of all of the economic interests of Invenergy Renewables, LLC in five wind farms in Québec, for a total cash consideration of approximately $215 million.
The transaction was financed through a $207 million public offering of subscription receipts on a bought deal basis with a syndicate of underwriters led by National Bank Financial and RBC Capital Markets, and a concurrent $51.8 million private placement of subscription receipts with la Caisse. Each of the five projects has secured long-term project financing from syndicates of international financial institutions totaling approximately $550 million. Boralex became the sponsor under such project financings as part of the acquisition.
The local community partners in the Roncevaux and Plateau II projects was represented by Nathalie Beauregard (Corporate).