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BRIEF-Boralex announces acquisition of Enercon's interest in 230 MW Niagara Region Wind Farm

Published 2016-12-08, 04:05 p/m
© Reuters. BRIEF-Boralex announces acquisition of Enercon's interest in 230 MW Niagara Region Wind Farm

Dec 8 (Reuters) - Boralex Inc BLX.TO

* Increases FY dividend by 7.1 percent to C$0.60per share

* Transaction is expected to be double-digit accretive to 2017 discretionary cash flow per share

* Boralex revises upward its 2017 EBITDA target from $290 million to $375 million

* To acquire interest in 230 MW Niagara region wind farm for a total cash consideration of $238.5 million

* Niagara region wind farm is expected to generate approximately $84 million in annual run-rate EBITDA

* Announces an increase in its 2020 contracted capacity target from 1,650 MW to 2,000 MW

* Boralex announces the acquisition of Enercon's interest in the 230 MW Niagara Region wind farm, a $150 million public equity offering and a 7.1% increase in its annual dividend per share Source text for Eikon: ID:nCNW0RMvwa Further company coverage: BLX.TO

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