Boralex announces the closing of a $95 million financing for the Témiscouata II wind farm in Quebec
20 Agosto 2024 - 1:00PM
Boralex inc. (“Boralex” or the “Company”) (TSX: BLX) is pleased to
announce the closing of a $95 million financing for the 52 MW
Témiscouata II wind farm, located on public lands in the
municipalities of Saint-Elzéar-de-Témiscouata and
Saint-Honoré-de-Témiscouata, Quebec, and in operation since 2015.
This financing was provided by Desjardins, as Sole Lender and Sole
Arranger.
The financing for the site comprises:
- An $85 million term loan, amortized
over 11 years;
- A letter of credit facility,
totaling $9.7 million, for guarantees under contracts with
Hydro-Québec and financing reserves;
- A significant portion of the
long-term financing component bears interest at a rate fixed under
an interest rate hedging arrangement.
- An ESG swap which includes a cash
back, designed by Desjardins, to cover the debt's interest rate
risk and to reward the achievement of ESG key performance
indicators. Specifically, the measures monitored are CO2 emissions
avoided by Boralex’s renewable energy production worldwide and
female representation in management positions.
“This financing is perfectly in line with our
focus on optimizing our capital structure, in addition to
demonstrating the financial community's strong support for our
projects. I would like to applaud the work of the Boralex and
Desjardins teams, who once again collaborated to set up this loan
with advantageous conditions, including the ESG swap, a tool
aligned with our strong commitment to corporate social
responsibility,” said Bruno Guilmette, Executive Vice President and
Chief Financial Officer of Boralex.
“This financing is yet another example of our
leadership in the renewable energy ecosystem in Quebec and across
the country. At Desjardins, our goal is to actively contribute to
the creation of a more inclusive, low-carbon economy. After our
participation in the financing of the Apuiat wind farm, in
collaboration with the Innu communities of the Côte-Nord region, we
are very proud to continue our relationship of trust with Boralex.
By adding a green cash back to this financing product, Desjardins
wishes to support the efforts of companies in integrating
environmental, social and governance criteria into their
operations. We would like to highlight Boralex's commitment in this
regard,” said Guy Cormier, President and Chief Executive Officer of
Desjardins Group.
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
forwardlooking statements to reflect new information, future events
or other changes.
About Boralex
At Boralex, we have been providing affordable
renewable energy accessible to everyone for over 30 years. As
a leader in the Canadian market and France’s largest independent
producer of onshore wind power, we also have facilities in the
United States and development projects in the United Kingdom. Over
the past five years, our installed capacity has more than doubled
to over 3 GW. We are developing a portfolio of more than
6.8 GW in wind, solar projects and storage projects, guided by
our values and our corporate social responsibility (CSR) approach.
Through profitable and sustainable growth, Boralex is actively
participating in the fight against global warming. Thanks to our
fearlessness, our discipline, our expertise and our diversity, we
continue to be an industry leader. Boralex’s shares are listed on
the Toronto Stock Exchange under the ticker symbol BLX.
For more information, visit boralex.com or
sedarplus.com. Follow us on Facebook, Twitter, LinkedIn and
Instagram.
For more information
MEDIA |
INVESTOR RELATIONS |
Camille LaventureAdvisor, Public Affairs and
External CommunicationsBoralex
Inc.438 883-8580camille.laventure@boralex.com |
Stéphane MilotVice President, Investor
RelationsBoralex Inc.514
213-1045stephane.milot@boralex.com |
Source: Boralex inc.
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