Boralex to Acquire 25% of the 230MW Niagara Region Wind Farm

Boralex Inc. confirms it will be exercising its option (the “Option”) to acquire a 25% economic interest in the 230MW Niagara Region wind farm in which Enercon Canada Inc. (“Enercon”) is the majority owner. The signature of the Option was previously announced by the Corporation on June 8, 2015. The closing and pricing of the project financing was announced today by Enercon and based on the final terms contained therein, Boralex has determined that all conditions related to the Option have been met. Boralex and Enercon have agreed that the exercise of the Option would take place on or before December 31, 2016, subject to the parties successfully negotiating and entering into definitive agreements and fulfilling the closing conditions to be contained therein.

Source:PRN