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Boralex has announced an agreement with an energy infrastructure partner to support the implementation of strategic plans in France. CanadianBusinessJournal

MONTREAL, Paris, February 24, 2022 (GLOBE Newswire)-Boralex Co., Ltd. (“Boralex” or “Company”) (TSX: BLX) by Energy Infrastructure Partners (“EIP”) at A. Signed a contract for investment 30% stake in Borarex’s assets and development pipeline in France. The transaction is completed after the necessary consultation of the employee representative and with the approval of the applicable regulatory agency. Expected to be completed during the first semester of 2022.

Transaction highlights

  • Boralex is in a long-term partnership with EIP, which will acquire a 30% stake in Boralex’s business in France, a Swiss-based global investment manager specializing in the energy sector.
  • This partnership includes French assets of 1.1 GW in operation, as well as a portfolio of 1.5 GW of projects in the French market as well as dates.
  • Boralex’s business in France generated EBITDA (A) of € 134 million (C $ 193 million) in 2021.
  • This transaction will be an EBITDA (A) 2021 of 20.3, a stock valuation of money prior to € 1,718M ($ 2,474M CAD) for all Boralex operations in France, representing multiple corporate values.
  • At the end of the transaction, cash revenue to Boralex will reach € 532M ($ 766M CAD) and its portion invested in Boralex operations in France (through a capital increase).
  • Boralex continues to be the majority shareholder and manager of French assets.

Having been in France for over 20 years, Boralex is a pioneer in operating renewable energy production bases through developing construction, ownership and its unique model. Co., Ltd. has expanded to meet the growing energy demands of the French market and has established itself as the largest independent producer of onshore wind energy in France since 2014.

This partnership seeks to strengthen Boralex’s position in this market in 2030 and achieve the ambitious goal of a strategic plan for France to increase installed capacity to 1.8 GW in 2025. A partner with a long-term vision that allows us to accelerate its growth and invest in the company’s future development, not only as storage up to 3 GW, but also in wind and solar power. EIP has all the qualities needed for Borarex to continue to stand out in the French market.

“We are grateful to the trusted EIP team they have placed within us. We are well aware of the renewable energy sector in Europe and our value of corporate social responsibility. We look forward to sharing our views and working together to meet our ambitions with players who are well known in our industry. In addition to creating significant value for our shareholders. , This investment demonstrates the quality of work of our team in France and Canada, and we can showcase the major platforms we have built over 20 years, “Patrick Decostre, President and Supreme The CEO said.

Boralex remains a major shareholder and manager of its assets in France

Boralex continues to be a majority shareholder in the French business through its 70% stake.

Boralex is also a site of almost 70 French and continues to manage the total capacity of one or more GWs and all their operating assets. Borarex’s production quality and industrial expertise in maintaining its assets make it possible (corporate PPA), either by signing direct power purchase agreements with customers in the commercial and industrial sectors, or as repowering. , Made to extend the life of this portfolio. Please note that the average remaining term of a liquid asset sales contract is 9 years. Boralex also confirms that progress will continue as it continues to manage its portfolio of projects under development or construction, totaling 1.5 GW in France.

“Partnership with EIP is a great opportunity for Boralex. With solid experience in renewable energy and an important foothold in Europe, EIP can help us realize our ambitions. Our goal was to secure long-term partnerships with industry experts to support our growth. We are very proud of this achievement, “Nicholas Wolff, Deputy. Boralex Europe, President and General Manager, has declared.

EIP, an ideal partner for Borarex

Energy Infrastructure Partners (EIP) is a Swiss, global investment manager focused on high quality, large renewable energy and key energy infrastructure assets for systems. As one of the few energy professional investors, EIP works closely with its extensive global industrial network, providing a wide range of trading and investment management experiences demonstrated by long-term collaboration with strong leading industrial partners.

“A few years ago, we were closely following Boralex, which stands out for its fully integrated operations, commercialization, financing and top-notch development capabilities. We build on our track record in the French market. Looking forward to working closely with partner Boralex on the build and providing access for our clients to this impressive renewable energy platform, “Roland Dörig Partner, EIP Management, commented.

Boralex, Financial Advisor Lazard, KPMG Canada, Law Firm Kaufhold & Reveillaud Avocats and Technical Advisors EPILOGUE Avocats, Mott McDonald, and Everoze have cooperated extensively in this successful transaction.

Conference Call-Thursday, February 24, 2022 at 9am EST, (3pm CET)

Financial analysts and investors are invited to attend today’s conference call at Boralex, which provides more detailed information about the transaction, meanwhile at 9am EST (3pm CET).

To attend the meeting

Dial-in number: 1-855-453-5257 or 409-330-8829, access code 1142119
Webcast link: https://edge.media-server.com/mmc/p/t8fmz7g3

The media and other stakeholders are invited to listen to the conference and view presentations that will be broadcast live and deferred on the Borarex website. www.boralex.com.. A full replay will also be available on the Borarex website until February 24, 2023.

Disclaimer regarding forward-looking statements

The statements contained in this press release, including those related to a particular transaction, and the profits arising from the transaction are forward-looking statements based on current forecasts within the meaning of securities law. Forward-looking statements are based on certain assumptions, including business performance assumptions, based on management expectations and production estimates and other factors. Assumption (A) margin for EBITDA. And assumptions about the current industry environment and general economic environment, competition and funding availability. Boralex believes that the forward-looking statements contained in this press release have reasonable expectations, but Boralex, by its very nature, states that forward-looking statements involve risks and uncertainties. As a result of wanting to clarify that, or major it adoption, may differ significantly from what was instructed or the basis of those statements, or to the extent that the stated forward-looking statement is achieved. May affect. Unless so specified by the company, no forward-looking statements are taken into account, the effect of announcing or occurring transactions, non-recurring items or other special items after such statements have been made (stocks). ) Can affect the activity. Materialized, either express or implied, in forward-looking statements, as a result, there is no guarantee of performance or outcome. The reader is therefore urged not to be overly dependent on these forward-looking statements. Except as required by applicable securities law, Borarex management undertakes no obligation to describe any updates or amendments to future prospects in light of new information, future events or other changes.

About Boralex

At Boralex, we have been providing affordable renewable energy for everyone for over 30 years. As a leader in the Canadian market and France’s largest independent producer of onshore wind, we also have facilities and development projects in the United Kingdom and the United States. Over the last five years, our installed capacity has doubled to less than 2.5 GW. We are developing a portfolio of three or more GWs and nearly 200 MW for wind and solar projects in storage projects guided by our values ​​and corporate social responsibility (CSR) approaches. Through profitability and sustainable growth, Boralex is actively involved in the fight against global warming. Thanks to our fears, our discipline, our expertise and our diversity, we continue to be industry leaders. Boralex shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.

For more information, please visit www.boralex.com or www.sedar.com. Follow us on Twitter and LinkedIn.

About Energy Infrastructure Partners AG

Energy Infrastructure Partners AG (EIP) is a Swiss-based manager of collective assets focused on high quality, large renewable energy and critical energy infrastructure assets for systems. With a managed CHF of over 4 billion, EIP leverages a large industrial network, extensive trading experience and close partnerships with the energy supply and public sector to develop and manage investment solutions for global institutional investors. I am. These clients, primarily pension funds, insurance and large family offices, also contribute to the security of energy supply, positive, economic, environmental and social development, population retirement allowances, long-term, visible cash. Seeking investment in flow-generating assets.

www.energy-infrastructure-partners.com

For more information:

Source: Boralex Co., Ltd.


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Boralex has announced an agreement with an energy infrastructure partner to support the implementation of strategic plans in France. CanadianBusinessJournal

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