Brookfield Asset Management and La Caisse agreed on 25 March to acquire Boralex for C$37.25 per share in cash, valuing the wind, solar, hydro and storage producer at about C$3.8bn in equity and C$9.0bn including debt.
Why Brookfield Asset Management and La Caisse is buying Boralex Inc.
Boralex chief executive Patrick Decostre said the partners suit an accelerated growth phase requiring significant capital deployment and financial flexibility. The buyers expect economies of scale in procurement and in selling power to large corporate customers, and Brookfield said the deal expands its presence in Canada and other markets.
Deal terms and financing
Brookfield invests through its flagship infrastructure strategy alongside Brookfield Renewable Partners and will own 70%. La Caisse, which held about 15% and agreed to vote in favour, will make a post-closing investment taking it to 30%. Boralex keeps its headquarters in Québec and operates independently.
Regulatory approvals and timing
The arrangement required Boralex shareholder approval and certain regulatory approvals, with closing expected by the fourth quarter of 2026. Boralex announced on 14 August 2026 that the acquisition had been completed, with delisting from the Toronto Stock Exchange expected on or about 17 August.
Market context
Boralex has about 3,800MW of installed capacity across Canada, the US, France and the UK, more than 90% of it contracted for an average of about 10 years, plus a development pipeline of several gigawatts.
