It didn’t lake long for the Boralex rumours to materialize, with Brookfield stepping in to the tune of $3.8B ($9B EV) alongside CDPQ to take the company private. At 13× NTM EBITDA…

… the deal comes at a slight premium to the Innergex takeout last year, which isn’t surprising - given Brookfield’s appetite for public-to-private transactions.

❝

Absolutely, yes, public companies. That would be number one in the current environment.

Connor Teskey (CEO) - BEP Q4’25 call

Post-close, Boralex will sit within the asset manager’s infrastructure platform - unlocking lower cost financing…

… and asset recycling capabilities typically out of reach for smaller IPPs…

… enabling it to fund its 5 GW development pipeline.

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