Boralex Inc. Secures $250 Million to Boost Renewable Energy Growth and Sustainability Efforts
- Boralex Inc. secures a $250 million loan to enhance renewable energy initiatives and support its 2030 Strategy.
- The company has increased its installed capacity by over 50% to 3.2 GW and is developing over 8 GW of projects.
- Strategic partnerships with La Caisse and Fondaction emphasize Boralex's commitment to sustainable development and climate action investments.
Boralex Secures $250 Million to Propel Renewable Energy Initiatives
Boralex Inc. solidifies its position as a leader in the renewable energy sector with the recent closing of a $250 million unsecured subordinated loan. This strategic financing, which includes a substantial $200 million investment from La Caisse and a $50 million contribution from Fondaction, is designed to support Boralex’s ambitious 2030 Strategy. This initiative focuses on enhancing project financing capabilities while ensuring financial discipline as the company continues to expand its renewable energy portfolio. The investment aligns with the growing emphasis on sustainable energy solutions and reflects Boralex’s commitment to combating climate change.
Over the past five years, Boralex has successfully increased its installed capacity by over 50%, reaching a notable 3.2 GW. The company is currently engaged in the development of more than 8 GW of wind, solar, and storage projects, indicating a robust growth trajectory in the renewable energy sector. The involvement of La Caisse not only underscores its dedication to Boralex’s long-term growth but also aligns with its broader climate strategy, which aims for $400 billion in climate action investments by 2030. Fondaction’s contribution further emphasizes the importance of sustainable economic transformation, showcasing a collective effort to foster clean energy infrastructure that yields measurable environmental benefits.
The structure of the loan involves semi-annual interest payments, with the principal non-amortizing and due at maturity in 2033. This financing arrangement reflects Boralex's commitment to maintaining a strong capital structure while complying with the obligations typical of such loans. The transaction is facilitated by Desjardins Capital Markets, which acts as the financial advisor to Boralex. As Canada’s Best Corporate Citizen according to Corporate Knights, Boralex continues to exemplify leadership in the renewable energy industry, actively participating in initiatives that address climate change and promote sustainability.
In addition to this financial milestone, Boralex's strategic collaborations with prominent investors like La Caisse and Fondaction signify a broader commitment to sustainable development within the energy sector. Both institutions play critical roles in advancing initiatives that prioritize environmental responsibility and the transition to cleaner energy sources. As Boralex embarks on this new phase of growth, it reinforces its reputation as a key player in shaping a sustainable future for Canada and beyond.