Boralex & Ardian sign agreement to acquire Kallista’s shares
Category: #world  By Saipriya Iyer  Date: 2018-04-23
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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.



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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