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.
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.
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The Canadian Press