On July 11, 2018, the Caisse de dépôt et placement du Québec completed the purchase, on a private placement basis, of 2,562,200 subscription receipts in Boralex Inc. for approximately $51.8 million.
The private placement was completed concurrently with the closing of a public offering of 10,247,650 subscription receipts in Boralex for gross proceeds of approximately $207 million. The subscription receipts were exchanged on a one-for-one basis for class A shares of Boralex upon completion of the acquisition by Boralex of all of Invenergy Renewables LLC’s 51% indirect interest in each of the 136 MW Des Moulins I wind farm project located in the MRC des Appalaches, Québec, the 21 MW Des Moulins II wind farm project located in the MRC d’Avignon in Gaspésie, Québec and the 139 MW Le Plateau I wind farm project located in the MRC d’Avignon in Gaspésie, Québec.
Boralex develops, builds and operates renewable energy power facilities in Canada, France, the United Kingdom and the United States. A leader in the Canadian market and France’s largest independent producer of onshore wind power, Boralex is recognized for its solid experience in optimizing its asset base in four power generation types - wind, hydroelectric, thermal and solar.
Caisse de dépôt et placement du Québec is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2017, it held $298.5 billion in net assets. As one of Canada’s leading institutional fund managers, la Caisse invests globally in major financial markets, private equity, infrastructure, real estate and private debt.
Fasken represented la Caisse with a team including Jean-Pierre Chamberland, Jean Michel Lapierre and Marie-Josée Neveu.
The private placement was completed concurrently with the closing of a public offering of 10,247,650 subscription receipts in Boralex for gross proceeds of approximately $207 million. The subscription receipts were exchanged on a one-for-one basis for class A shares of Boralex upon completion of the acquisition by Boralex of all of Invenergy Renewables LLC’s 51% indirect interest in each of the 136 MW Des Moulins I wind farm project located in the MRC des Appalaches, Québec, the 21 MW Des Moulins II wind farm project located in the MRC d’Avignon in Gaspésie, Québec and the 139 MW Le Plateau I wind farm project located in the MRC d’Avignon in Gaspésie, Québec.
Boralex develops, builds and operates renewable energy power facilities in Canada, France, the United Kingdom and the United States. A leader in the Canadian market and France’s largest independent producer of onshore wind power, Boralex is recognized for its solid experience in optimizing its asset base in four power generation types - wind, hydroelectric, thermal and solar.
Caisse de dépôt et placement du Québec is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2017, it held $298.5 billion in net assets. As one of Canada’s leading institutional fund managers, la Caisse invests globally in major financial markets, private equity, infrastructure, real estate and private debt.
Fasken represented la Caisse with a team including Jean-Pierre Chamberland, Jean Michel Lapierre and Marie-Josée Neveu.
