Montreal (Canada), July 7, 2025 – Boralex Inc. (TSX: BLX) (“Boralex” or the “Company”) announces the closing of an additional corporate financing of $250 million by way of an unsecured subordinated loan with a term of 8 years. The investment is made by La Caisse (formerly CDPQ), which is providing an amount of $200 million, to which is added a $50 million investment by a new partner, Fondaction.
Financial Highlights
- Structure: unsecured subordinated loan
- Amount: $250 million
- Maturity Date: June 27, 2033
- Interests: payable semi-annually
- Repayment: non amortizing loan, payable at maturity date, subject to compliance with obligations associated with this type of loan
“As a major shareholder since 2017, La Caisse supports Boralex, an independent Canadian leader in renewable energy production, in the development of a diversified portfolio of high-quality projects” said Jérôme Marquis, Managing Director and Head of Private Credit at La Caisse. “By doubling our existing debt financing with this transaction, we reaffirm our confidence in Boralex’s execution capacity and continued growth, both in Québec and internationally.”
La Caisse recently announced its 2025-2030 climate strategy aimed at accelerating the decarbonization of businesses and increasing its investments related to the energy transition, in order to reach $400 billion in investments in climate action by 2030.
“This impact investment in Boralex supports the development of clean energy infrastructure with tangible and measurable environmental benefits. It reflects Fondaction’s commitment to a sustainable economic transformation, aligned with our strategic objectives—both in the fight against climate change and in generating meaningful socioeconomic benefits for Québec,” said Claire Bisson, Vice President and Chief Investment Officer, Fondaction.
Desjardins Capital Markets acted as financial advisor to Boralex.
Caution Regarding Forward-Looking Statements
Some of the statements contained in this press release 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 measure 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 Company, the forward-looking statements do not take into account the possible impact on its activities, 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, Boralex management does not assume any obligation to update or revise forward-looking statements to reflect new information, future events or other changes.
Stéphane Milot
Vice-President, Investor Relations & Financial Planning and Analysis
Camille Laventure