Brookfield, La Caisse Close $3.2B Boralex Take-Private

Boralex will keep operating independently, the statement said. The investment from Brookfield and La Caisse will help the company meet demand from electrification, reindustrialization, digitalization, and energy security, the companies said. The structure mirrors how Brookfield runs other portfolio companies, letting them retain their own management and strategy while gaining access to its capital base.

The deal marks one of the larger take-privates in the Canadian renewable sector this cycle. Brookfield Renewable Partners, part of Brookfield's sprawling infrastructure and renewable energy platform, joined the purchase alongside institutional partners. La Caisse, the Quebec-based pension fund manager that already held a stake in Boralex, rolled its position into the new structure.

Boralex develops, owns, and operates wind, solar, hydroelectric, and energy storage projects in Canada, France, the United States, and the United Kingdom. The company had roughly 3.4 gigawatts of installed capacity at the end of 2025.

The purchasers said they will file early warning reports under Canadian securities rules. Copies will be available on SEDAR+.