Boralex has announce it has submitted a binding offer to acquire all of the issued and outstanding shares of Enel Green Power France SAS (EGPF), a wholly owned subsidiary of Enel Green Power International B.V., for a total net consideration of CAN$ 400 million payable in cash.
With this Transaction, Boralex will add to its French portfolio 12 wind farms with a total installed capacity of 186 MW located in 7 different regions of France, These assets are characterised by power purchase agreements (PPA) with remaining average lives of 11 years in place with state-owned utility Électricité de France (EDF). Boralex will also own one wind farm under construction, with a capacity of 10MW, which is expected to be commissioned in Q2 2015, and that has also secured a 15-year PPA with EDF. In total, EGPF employs 48 employees. Furthermore, the transaction includes a pipeline of 310MW of wind and solar energy projects, including 12 projects that are in an advanced stage and have already been granted or have requested building permits. These advanced stage projects could add up to 120MW of mainly wind power capacity to the net installed base within the next few years.
