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Boralex Takes Control of 3 Quebec Wind Farms (Ind. Report, M&A)
Boralex
Date: 2020-11-20
Montreal-headquartered Boralex Inc. is reporting an agreement to acquire the full 49 pct equity stake held by the Province of Quebec Pension Fund -- Caisse de depot et placement du Quebec (CDPQ) -- in 3 wind farms totaling 296 MW in Quebec, already 51 pct owned by Boralex.

The 3 wind farms, located in the Avignon RCM in Gaspesie and the Appalaches RCM in eastern Quebec, are equipped with Enercon turbines and have long-term PPAs with Hydro-Quebec Distribution, expiring between 2032 and 2033 with a weighted average remaining contract duration of nearly 12.5 years.

As part of the acquisition, Boralex will pay $121.5 million cash to CDPQ on closing, which may be supplemented by a conditional consideration of up to $4 million subject to the settlement of certain future conditions that need to be met. The closing is expected to take place at the end of November 2020, subject to standard closing conditions. With this transaction, Boralex's installed capacity will be 2,212 MW. (Source: Boralex Inc., Website, PR, 19 Nov., 2020) Contact: Boralex, Patrick Lemaire, Pres., CEO, (514) 985-1353, www.boralex.com; CDPQ, 514 847-5493, www.cdpq.com

More Low-Carbon Energy News Boralex,  Wind,  CDPQ,  


O2 Power, Ayana After Azure Power Global Solar Assets (Int'l. M&A)
O2 Power, Ayana Renewable Power
Date: 2020-09-28
India's O2 Power and Ayana Renewable Power have reportedly emerged as the front-runners to acquire Azure Power Global's 305 MW rooftop solar assets valued at in a potential deal valued at roughly $200 million. The deal is reportedly backed by International Finance Corporation (IFC) and Canadian pension fund Caisse de depot et placement du Quebec (CDPQ).

O2 Power is a $500-million renewable energy platform with an 800 MW solar portfolio in Andhra Pradesh and Rajasthan, according to the company website. (Source: O2 Power, Mint, 27 Sept., 2020) Contact: Azure Power, Ranjit Gupta, CEO, +91-11-4940-9854, pr@azurepower.com, www.azurepower.com; O2 Power, info@O2power.in, www.O2power.in; Ayana Renewable Power, +9180-48511001, www.ayanapower.com

More Low-Carbon Energy News O2 Power,  Ayana,  Azure Power,  Solar,  


KKR, Actis Pursuing Indian Solar Assets (Int'l. M&A)
KKR,Actis,Caisse de depot et placement du Quebec,Azure Power
Date: 2020-07-07
Private equity investors KKR and London-based Actis are reportedly in talks to acquire a solar portfolio of 435 MW from Canadian province of Quebec's pension fund Caisse de depot et placement du Quebec (CDPQ) -- backed Azure Power Global Ltd., at an expected cost of roughly $200-250 million.

CDPQ holds a 50.9 pct stake in Azure Power which has a pan-India portfolio of more than 7 GW.

Actis is a global emerging markets investment firm focused on the private equity, energy, infrastructure, and real estate asset classes. It has a growing portfolio of investments across Asia, Africa, and Latin America and US$12 billion in assets under management. (Source: CDPQ, livemint, July, 2020) Contact: KKR, www.kkr.com; Actis. www.actis.is; Azure Power, www.azurepower.com; CDPQ, 514 847-5493, www.cdpq.com

More Low-Carbon Energy News Caisse de depot et placement du Quebec ,  Solar,  Azure Power ,  


Azure Power Raises $75Mn from Quebec Pension Fund (Int'l Report)
Azure Power
Date: 2019-12-20
New Delhi-based independent Indian solar power producer Azure Power Global Limited is reporting closure of its previously announced $75 million (US) private placement.

The total was raised from Canadian pension fund Caisse de depot et placement du Quebec (CDPQ) through sale of 6,493,506 equity shares at $11.55 per share. CDPQ's equity interest in Azure Power now stands at 49.4 pct. Azure Power has a pan-India portfolio of more than 3 GW. (Source: Azure Power, PV Mag., 17 Dec., 2019) Contact: Azure Power, Ranjit Gupta, CEO, +91-11-4940-9854, pr@azurepower.com, www.azurepower.com

More Low-Carbon Energy News Azure Power,  Solar,  

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