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Monday, December 15, 2014

Boralex to purchase Enel Green Power for C$400 mln, (TSE: BLX.TO)

Renewable energy company Boralex Inc said it offered to purchase Enel Green Power France SAS for C$400 million (about $343 million) to expand in France. The deal, expected to immediately add to Boralex's cash flow, will add 12 wind farms with a total installed capacity of 186 megawatts (MW) in France, the company said.

Boralex Inc. (Boralex) is an electricity producer whose business is the development and operation of renewable energy power stations. Shares of BLX traded higher by 0.3% or $0.04/share to $13.41. In the past year, the shares have traded as low as $10.53 and as high as $14.09. On average, 48664 shares of BLX.TO exchange hands on a given day and today's volume is recorded at 29962.