Boralex announces €1.45 billion single platform-level financing in France to support its portfolio of operating assets and development projects

Press Release

In collaboration with co-shareholder Energy Infrastructure Partners, financing is the largest ever completed by Boralex

MONTREAL and ZURICH , June 30, 2026 – Boralex Inc. (“Boralex” or the “Company”) (TSX: BLX) and Energy Infrastructure Partners (“EIP”), co-shareholders of Boralex’s activities in France, with a 70% and 30% share respectively, announce the closing of a €1.45 billion ($2.34 billion¹) financing.

With this transaction, Boralex moves from a multi-borrower debt structure to a single platform financing covering its entire French operations and providing enhanced flexibility to support the Company’s strategy in France centered around growth, efficiency and long-term differentiation. One of the largest debt packages for a renewable energy platform in Europe this year, this transaction strengthens Boralex’s capacity to efficiently deploy capital and scale its platform in France.

Financing Highlights

The financing, totalling €1.453 million ($2.339 million), includes:

• A €811 million ($1.31 billion) term loan for existing assets;
• A €450 million ($725 million) CAPEX line facility with a 22-year tenor to fund growth projects;
• A €100 million ($161 million) revolving credit facility with a 7-year tenor, and;
• A debt service reserve facility (DSRF) and a VAT facility totalling €92 million ($148 million).

This innovative financing is backed by a diversified pool of ten banks, mainly long standing partners of Boralex and EIP that pledged continued support. Several new banking partners also subscribed.

“This structure provides us with greater commercial flexibility, allowing us to tailor contracting strategies and optimize project execution while remaining highly responsive to market opportunities in France. I would like to recognize the exceptional commitment of our teams and our financing partners, whose efforts made this transaction possible,” said Boralex Europe Executive Vice President and General Manager Jean-Christophe Dall’Ava.

“This financing establishes a flexible platform with centralized liquidity, strengthening our ability to execute projects efficiently, reduce execution risk, and support scalable growth,” said Boralex Executive Vice President and Chief Financial Officer Philippe Bonin.

“Since investing in 2022, we have been convinced of the enormous potential of Boralex’s French platform and consistently implemented our growth plans. This financing represents a major next step on this path, underscoring the quality of assets we have today and the enormous growth potential that lies ahead,” said Energy Infrastructure Partners Managing Director Eduardo Sauer.

Rothschild & Co acted as financial advisor to Boralex. A&O Shearman acted as legal counsel to Boralex.

About Boralex

At Boralex, we have been providing affordable renewable energy accessible to everyone for over 35 years. As a leader in the Canadian market and France’s largest independent producer of onshore wind power, we also have facilities in the United States and in the United Kingdom. Over the past five years, our installed capacity has increased by more than 50%, reaching 3,783 MW as at March 31, 2026. We are developing a portfolio of projects in development and construction of 8.3 GW in wind, solar and BESS projects, guided by our values and our corporate social responsibility (CSR) approach. Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, our discipline, our expertise and our diversity, we continue to be an industry leader. Boralex’s shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.

About Energy Infrastructure Partners

Energy Infrastructure Partners invests in energy infrastructure for decades to create exceptional value for our clients and partners. With EUR 7 billion under management, our investments focus on three megatrends — decarbonization, digitalization and security — that require trillions of investments in the energy sector over the next decades. We use our extensive industry network, deep transaction experience and close partnerships with leading energy companies and the public sector to develop and manage investment solutions for institutional investors globally. With headquarters in Zurich and offices internationally, our global team includes 29 nationalities united by three core values: entrepreneurship, excellence and trust.

For more information – Boralex

¹All figures in brackets are in CAD and based on 1.61 EUR/CAD conversion rate at market closing on June 25, 2026

Related Links

• Boralex website

ILR4