1. Homepage
  2. Equities
  3. Canada
  4. Toronto Stock Exchange
  5. Boralex Inc.
  6. News
  7. Summary
    BLX   CA09950M3003

BORALEX INC.

(BLX)
  Report
Delayed Toronto Stock Exchange  -  04:00 2022-08-05 pm EDT
49.38 CAD   +1.88%
08/05Boralex Kept at Hold by TPH Following Q2 Results; Price Target Raised to C$47.00
MT
08/04National Bank Notes Boralex Q2 In Line as Benefits from Higher Power Prices; Lifts Price Target
MT
08/03Boralex Hold Rating Reiterated by TPH Following Q2 Results; Price Target Kept at C$42.00
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Boralex consolidates its presence in the United Kingdom by acquiring Infinergy, including portfolio of projects in development of 338 MW

07/04/2022 | 07:06am EDT

MONTREAL and PARIS, July 04, 2022 (GLOBE NEWSWIRE) -- Boralex Inc. (“Boralex” or the “Company”) (TSX: BLX) is pleased to announce that it has closed the acquisition of Infinergy’s interests in the United Kingdom. The transaction includes Infinergy’s portfolio of projects in development and its 50% interest in a joint venture formed with Boralex in 2017, as well as the integration of the Infinergy team–9 employees based in two offices in the United Kingdom–into Boralex.

Transaction highlights

  • Acquisition of 100% of Infinergy Ltd., which has a portfolio of 338 MW of wind and solar power and energy storage projects, including 232 MW owned by the joint venture with Boralex and 106 MW owned directly by Infinergy.
  • The acquisition includes Infinergy’s 50% interest in the joint venture with Boralex. Boralex was already consolidating the 232 MW owned by the joint venture since it had control of the business. However, this agreement will give Boralex access to 100% of the joint venture's cash flows.
  • Infinergy’s team of 9 employees will join Boralex, enabling the acceleration of project development, including projects currently being explored in the high-potential U.K. market.

The transaction will enable Boralex to benefit fully from the revenues and optimization initiatives related to the future operation of projects under development and ready for construction, including the Limekiln wind farm.

Boralex and Infinergy have been co-developing a portfolio of onshore wind projects in a 50/50 joint venture since 2017. As a result of the transaction, Boralex gains full access to a portfolio of projects of 338 MW.

This acquisition provides Boralex the opportunity to strengthen its European presence in markets with high potential for further development. Its strategic plan calls for doubling its installed capacity worldwide to 4.4 GW by 2025 and to again double such capacity between 2025 and 2030.

"This transaction will allow us to accelerate organic growth in a high-potential market in addition to contributing to the geographic diversification of our activities, two key elements of our 2025 Strategic Plan,” said Patrick Decotre, President and Chief Executive Officer of Boralex.

“Building from the fact that Scotland has a very favourable political climate for renewable energy development, we have identified the UK market as a high-potential target for developing onshore wind as well as solar and energy storage facilities. We are confident that Boralex can draw on its experience as a wind farm developer and operator to carry on the high-quality work started by the staff at Infinergy, whom I would like to warmly welcome to the Boralex team,” said Nicolas Wolff, Vice President and General Manager of Boralex, Europe.

It should be noted that the control of Infinergy’s activities in the Netherlands and Australia, will remain unchanged and is not covered by the agreement.

Infinergy, Boralex’s new development platform in the United Kingdom

This transaction will also bring the Infinergy team, consisting of 9 employees based in Wimborne, England, and Edinburgh, Scotland, into the Boralex team. Boralex will gain from the expertise of a team that has been developing energy projects for 19 years and has successfully completed approximately 300 MW of projects in the United Kingdom.

Esbjörn Wilmar, Chief Executive of Infinergy Ltd. said: “Having worked with Boralex in the UK over the last five years, we are excited to now become full members of the Boralex team. Joining forces will further strengthen our combined capabilities to develop, build and operate renewable energy projects in the UK and we are looking forward to bringing our growing portfolio of projects to fruition. Next to onshore wind, we will further develop our project portfolio with solar and battery storage developments.”

Limekiln: the flagship wind project of this agreement

A symbol of the early years of the Infinergy-Boralex joint venture, Limekiln Wind Farm is one of the more advanced projects in the agreement. In May 2022, this recently optimized project received planning permission for 110 MW of capacity, enough to power more than 96,000 British households. The transaction will see Boralex acquire all of Infinergy’s shares in the Limekiln project, which is scheduled to be built in 2023.

Caution regarding forward-looking statements

Some of the statements contained in this press release, including those regarding the transaction with Infinergy, the benefits from the transaction, the revenues and optimization initiatives and Boralex's strategic plan are forward-looking statements based on current expectations, within the meaning of securities legislation. Boralex would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results or the measures it adopts could differ materially from those indicated by or underlying these statements, or could have an impact on the degree of realization of a particular forward-looking statement. Unless otherwise specified by the Corporation, the forward-looking statements do not take into account the possible impact on its activities of transactions, non-recurring items or other exceptional items announced or occurring after the statements are made. There can be no assurance as to the materialization of the results, performance or achievements as expressed or implied by forward-looking statements. The reader is cautioned not to place undue reliance on such forward-looking statements. Unless required to do so under applicable securities legislation, management of Boralex does not assume any obligation to update or revise forward-looking statements to reflect new information, future events or other changes.

About Boralex

At Boralex, we have been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France’s largest independent producer of onshore wind power, we also have facilities in the United States and development projects in the United Kingdom. Over the past five years, our installed capacity has more than doubled to 2.5 GW. We are developing a portfolio of more than 3 GW in wind and solar projects and nearly 200 MW in storage projects, guided by our values and our corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, our discipline, our expertise and our diversity, we continue to be an industry leader. Boralex’s shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.

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

About Infinergy

Infinergy is a UK based renewable energy company, active in the UK, The Netherlands and Australia with a strong focus on the development of onshore wind energy in Scotland. Infinergy develops wind and solar energy projects from inception through to construction and operation. In the UK we develop most of our projects in close cooperation with Boralex. For more information visit http://www.infinergy.co.uk.


For more information:

Media Investor Relations
Camille Laventure
Advisor, Digital Communications
Boralex Inc.
438-883-8580
camille.laventure@boralex.com  
Stéphane Milot
Senior Director – Investor Relations
Boralex Inc.
514 213-1045
stephane.milot@boralex.com
  
Media – France (Agency)
Virginie Raison
PR Consultant
Oxygen
06 65 27 33 52
virginie@oxygen-rp.com
 
  

Source: Boralex Inc.


All news about BORALEX INC.
08/05Boralex Kept at Hold by TPH Following Q2 Results; Price Target Raised to C$47.00
MT
08/04National Bank Notes Boralex Q2 In Line as Benefits from Higher Power Prices; Lifts Pric..
MT
08/03Boralex Hold Rating Reiterated by TPH Following Q2 Results; Price Target Kept at C$42.0..
MT
08/03TRANSCRIPT : Boralex Inc., Q2 2022 Earnings Call, Aug 03, 2022
CI
08/03Boralex Back To Q2 Profit After Reversing Year-Ago Loss; National Bank Says Boralex Has..
MT
08/03Boralex Back To Q2 Profit After Reversing Year-Ago Loss
MT
08/03Boralex Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June ..
CI
08/03Boralex vigorously pursues its growth and diversification strategy in the second quarte..
GL
08/03Earnings Flash (BLX.TO) BORALEX Reports Q2 EPS Per share basic and diluted consolidated..
MT
08/03Boralex vigorously pursues its growth and diversification strategy in the second quarte..
AQ
More news
Analyst Recommendations on BORALEX INC.
More recommendations
Financials
Sales 2022 801 M 618 M 618 M
Net income 2022 94,2 M 72,8 M 72,8 M
Net Debt 2022 2 931 M 2 264 M 2 264 M
P/E ratio 2022 55,4x
Yield 2022 1,34%
Capitalization 5 074 M 3 920 M 3 920 M
EV / Sales 2022 10,00x
EV / Sales 2023 9,40x
Nbr of Employees 562
Free-Float 99,3%
Chart BORALEX INC.
Duration : Period :
Boralex Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BORALEX INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 49,38 CAD
Average target price 49,43 CAD
Spread / Average Target 0,10%
EPS Revisions
Managers and Directors
Patrick Decostre General Manager-Europe
Bruno Guilmette Chief Financial Officer & Vice President
Alain Rhéaume Chairman
Nicolas Mabboux VP-Information Technology & Digital Transformation
Alain Pouliot Assistant General Manager-Operations
Sector and Competitors
1st jan.Capi. (M$)
BORALEX INC.42.39%3 920
NEXTERA ENERGY-5.76%172 861
DUKE ENERGY CORPORATION4.06%84 050
SOUTHERN COMPANY12.67%82 138
DOMINION ENERGY, INC.5.10%67 061
IBERDROLA, S.A.0.67%66 403