Boralex & Ardian sign agreement to acquire Kallista’s shares
Category: #world  By Dhananjay Punekar  Date: 2018-04-23
  • share
  • Twitter
  • Facebook
  • LinkedIn

Boralex & Ardian sign agreement to acquire Kallista’s shares

In what may be touted as a major boost to the renewable energy sector, Boralex Inc., a Canadian developer of renewable power facilities, has entered into an acquisition deal with Ardian Infrastructure. The Canadian firm has agreed to buy out all the outstanding stocks of Kallista Energy Investment SAS, a wind power firm, from Ardian for CAD 202 million with the assumption that CAD 146.7 million will be the project debt capital funding amount.

As per the terms & conditions stated in the deal, Boralex will receive 163MW of the operating wind power ventures along with a 10-megawatt ready-to-build venture, and various other ventures tallying up to 158 megawatts.

Patrick Lemaire, the CEO and President of Boralex Inc., has declared that the contract will benefit and improve the firm’s position across the onshore wind power market in France. He further claimed that the acquisition will not only help in enhancing operating synergies, but support Boralex’s goal of augmenting the growth potential across the France renewable energy sector, which has received significant support from the government of the country.

Reportedly, the deal is forecast to get finalized by the end of the first half this year after receiving the green signal from the French authorities, post fulfilling the customary conditions for closing the deal. With the addition of new projects to its business portfolio, Boralex will possess an overall installation capacity of nearly 1619 MW, including approximately 800 megawatts in France. For the record, Boralex’s projects under construction in the UK and France combined are projected to provide it the ability to generate nearly 1000 MW of renewable energy from Europe alone.

With the emerging renewable energy trends witnessed across the globe, Boralex’s decision to acquire a new project will help it expand its market share and also contribute towards reducing the hazards caused due to greenhouse gas emissions.



About Author

Dhananjay Punekar

Email: [email protected]   

Dhananjay Punekar

Dhananjay Punekar presently develops content for a slew of portals, including Market Size Forecasters and Algosonline. A post graduate in mathematics and business administration, he worked in Infosys BPO Limited prior to switching his professional genre. As a content wr...

Read More

More News By Dhananjay Punekar

AstraZeneca gets import & marketing approval for Durvalumab in India
AstraZeneca gets import & marketing approval for Durvalumab in India
By Dhananjay Punekar

AstraZeneca Pharma India, a division of pharma & biopharma giant AstraZeneca plc, has received a green signal from the Indian drug regulating agency DCGI (Drug Controller General of India) for its drug Durvalumab c...

BP exits deal with Woolworths, retail firm looks out for alternatives
BP exits deal with Woolworths, retail firm looks out for alternatives
By Dhananjay Punekar

BP Plc, a UK based oil & gas firm, has decided to terminate its USD 1.8 billion acquisition deal with Australian retail giant Woolworths. For the record, the British oil & gas company had signed a pact to purch...

Sarepta obtains positive results on DMD therapy, shares skyrocket 50%
Sarepta obtains positive results on DMD therapy, shares skyrocket 50%
By Dhananjay Punekar

The shares of Sarepta Therapeutics Inc., a medical research & drug development firm, climbed up by 50% after the firm released initial results derived from clinical treatment on patients suffering from Duchenne mus...