Brookfield Asset Management, in partnership with Québec-based institutional investor La Caisse, has announced a definitive agreement to acquire Canadian renewable energy producer Boralex in an all-cash transaction valued at approximately CAD 9 billion (USD ~6.5 billion).
Under the terms of the agreement, Boralex shareholders will receive CAD 37.25 per share in cash, representing a premium of roughly 31–36% over recent trading averages prior to the announcement. The transaction will result in Boralex being taken private upon completion.
Following the acquisition, Brookfield is expected to hold a 70% controlling stake in the company, while La Caisse will increase its ownership to 30%, strengthening its position as a long-term strategic investor in the renewable energy developer.
Boralex currently operates a diversified renewable energy portfolio of around 3.8 GW across wind, solar, hydro, and battery storage assets in Canada, the United States, France, and the United Kingdom. The company also maintains a multi-gigawatt development pipeline aimed at expanding its global clean energy footprint.
The acquisition is expected to support Boralex’s long-term growth strategy by leveraging Brookfield’s global infrastructure investment platform and capital resources. The deal has received unanimous approval from Boralex’s board of directors and remains subject to customary shareholder and regulatory approvals.
The transaction is expected to close in the fourth quarter of 2026, subject to closing conditions.
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