Brookfield and La Caisse Acquire Boralex for $6.5 Billion

Brookfield and Quebec-based institutional investor La Caisse announced an agreement to acquire Quebec-based global renewable energy platform Boralex in a deal valuing the company at an enterprise value of $6.5 billion. Under the transaction, Brookfield will acquire a 70% stake in Boralex, while La Caisse, currently Boralex's largest shareholder with a 15% stake, will make a post-closing investment to increase its ownership to 30%. Boralex operates approximately 3.8 GW of wind, solar, hydro and battery storage assets across Canada, France, the U.S., and the UK, with over 90% contracted for an average term of 10 years, plus a development pipeline of 1.6 GW of advanced-stage projects and an additional 5.6 GW at mid- and early-stage. The backing from Brookfield and La Caisse will enable Boralex to accelerate pipeline development and establish a disciplined capital recycling program. The transaction is expected to close by Q4 2026, with Boralex continuing to operate independently and maintain its Quebec headquarters.

Counterparts (3)

Buyer

Brookfield

company · 3 deals

Brookfield is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. They invest in long-life, high-quality assets and apply an owner-operator mindset to manage and grow the businesses they own.

La Caisse

company · 1 deals

Montréal-based pension fund and institutional investor managing $517B in assets across real estate, infrastructure, private equity, and public markets globally. Operates with offices in 10 cities including Toronto, New York, London, Singapore, and São Paulo, with significant investments in Québec and international infrastructure assets.

target

Boralex

company

Boralex is a Canadian renewable energy power producer that develops, builds, and operates onshore wind farms, solar farms, hydroelectric power stations, and energy storage facilities. Their strategy focuses on growth in North America and Europe, leveraging their expertise in project development and asset management to expand their installed capacity and contribute to the energy transition.