Boralex closes acquisition of 230 MW Niagara Region Wind Farm

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By Ted Liu

Boralex Inc. (TSX: BLX) has closed its previously announced acquisition of all of the economic interest of Enercon Canada Inc. in the 230 MW Niagara Region Wind Farm (NRWF) for a total cash consideration of $232.4 million.

Niagara Region Wind Farm is expected to generate approximately $84 million in annual run-rate EBITDA and the acquisition is expected to be double-digit accretive to 2017 discretionary cash flow per share.

The acquisition was funded in part through a $172.5 million subscription receipts offering co-led by National Bank Financial Inc. and RBC Capital Markets.

photo credit: Karsten Wurth via Unsplash