Boralex signs $283M deal for controlling interests in seven U.S. solar power plants

MONTREAL — Boralex Inc. has signed a deal to buy controlling interests in seven solar power plants in the United States from Centaurus Renewable Energy LLC and other investors for $283 million.

The deal includes five solar plants in California, one in Alabama and one in Indiana.

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CRE and other investors will retain certain non-controlling interests in the assets.

The operations were commissioned between 2014 and 2017 and benefit from long-term power purchase agreements.

Boralex chief executive Patrick Lemaire says the acquisition will mark the company's entry into the California, Alabama and Indiana markets and will be a springboard to further development.

The deal is expected to close before the end of the year.

This report by The Canadian Press was first published Nov. 23, 2020.

Companies in this story: (TSX:BLX)

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