Brookfield Asset Management and La Caisse have agreed to acquire Boralex in a $9.7 billion take-private transaction that values the renewable energy platform at $37.25 per share. The deal represents a 31.8% premium to Boralex's latest closing price and a 36.4% premium to its 30-day volume-weighted average price. Brookfield will take a 70% stake while La Caisse will increase its ownership to 30%.

Boralex operates a diversified renewable energy portfolio of approximately 3,800 megawatts, with over 90% of assets under long-term contracts providing stable revenues. The company maintains a substantial development pipeline including more than 1,600 megawatts in advanced-stage projects and over 5,600 megawatts in total. Jehangir Vevaina, Brookfield's Global Chief Investment Officer for Energy, said the combination will accelerate growth across wind, solar, hydro, and battery storage assets.

The transaction has been unanimously approved by Boralex's board and is expected to close by Q4 2026, subject to shareholder and regulatory approvals. The deal provides Boralex with long-term capital and operational support to execute its development pipeline. As the renewable energy sector continues to attract major investment, this acquisition positions Brookfield and La Caisse to scale their presence in Canada and other attractive energy markets.