Boralex secures court approval for Brookfield arrangement
Boralex Inc. obtained final court approval for its plan of arrangement with Brookfield and Caisse de dépôt et placement du Québec, following shareholder approval on June 4, 2026. The deal is expected to close in Q4 2026, pending regulatory approvals. Boralex's installed capacity stands at 3,783 MW as of December 31, 2025.
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Boralex Inc. has secured a final order from the Superior Court of Québec (Commercial Division) approving its plan of arrangement with Brookfield and Caisse de dépôt et placement du Québec. The approval follows shareholder authorization obtained at the annual and special meeting held on June 4, 2026. The transaction involves BIF Thunder Holdings Inc., a newly-formed entity jointly owned by Brookfield Infrastructure Fund V and its affiliates, alongside Caisse de dépôt et placement du Québec.
The completion of the arrangement remains contingent upon satisfying customary closing conditions, including the receipt of key regulatory approvals. Boralex anticipates the transaction will be finalized by the fourth quarter of 2026, assuming these conditions are met.
Transaction Details
The arrangement is structured under section 192 of the Canada Business Corporations Act. Key stakeholders and entities involved in the transaction include:
| Entity | Role |
|---|---|
| Boralex Inc. | Corporation undergoing arrangement |
| BIF Thunder Holdings Inc. | Newly-formed acquiring entity |
| Brookfield Infrastructure Fund V | Joint owner of acquiring entity |
| Caisse de dépôt et placement du Québec | Joint owner of acquiring entity |
Operational Context
Boralex operates as a leader in the Canadian renewable energy market and is France's largest independent producer of onshore wind power. The company's installed capacity reached 3,783 MW as of December 31, 2025, representing a 50% increase over the past five years. Boralex is currently developing a portfolio of 8.2 GW in wind, solar, and Battery Energy Storage System (BESS) projects.
Further details regarding the arrangement are available in the management information circular dated May 1, 2026, accessible under Boralex's profile on SEDAR+.
How will the integration of Boralex's development pipeline impact Brookfield and CDPQ's broader renewable energy strategies?
What regulatory hurdles remain the most significant risks to meeting the Q4 2026 closing target?
Will the change in ownership affect Boralex's operational independence or its expansion into the French market?
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