Boralex Inc. (TSX: BLX) received a final order from the Quebec Superior Court's commercial division on Thursday approving the plan of arrangement that will transfer control of the renewable-energy producer to a consortium comprising Brookfield Infrastructure Fund V and Caisse de dépôt et placement du Québec, the Montreal-based pension giant.
The court ruling, issued June 5, 2026, follows shareholder approval secured at the company's annual and special general meeting held one day earlier on June 4. The arrangement is governed by Section 192 of the Canada Business Corporations Act and structured through BIF Thunder Holdings Inc., a newly incorporated vehicle jointly owned by Brookfield and Caisse.
The dual approvals — from shareholders and then the court within 24 hours — represent the final substantive regulatory milestones before closing. No figures on transaction value, per-share consideration or a closing date were disclosed in the court announcement, but the arrangement had been publicly announced in an earlier filing period. Investors tracking the deal should consult prior disclosure documents for pricing terms.
The transaction reflects continued consolidation pressure in the North American clean-energy sector, where large infrastructure funds and sovereign-aligned pension vehicles have aggressively targeted listed renewable operators trading at discounts to private-market asset values. Brookfield Infrastructure and Caisse are both repeat acquirers in this space, deploying long-duration capital that tolerates the yield profiles typical of wind and solar generation portfolios. For context on how pension-backed infrastructure deals are reshaping energy supply chains, see our earlier analysis at /mergers-acquisitions/pension-funds-infrastructure-consolidation.
Boralex operates wind, solar, storage and hydroelectric assets primarily in Canada and France. The company's exit from public markets via a consortium structure mirrors a broader pattern in which listed mid-cap renewables operators are absorbed by better-capitalised private platforms — a trend with downstream implications for F&B manufacturers that have signed long-term power purchase agreements with independent generators. Industry watchers tracking energy-cost exposure for food processors can find related coverage at /supply-chain/renewable-energy-ppa-food-manufacturing.
Written by Michael Politz, Author of Guide to Restaurant Success: The Proven Process for Starting Any Restaurant Business From Scratch to Success (ISBN: 978-1-119-66896-1), Founder of Food & Beverage Magazine, the leading online magazine and resource in the industry. Designer of the Bluetooth logo and recognized in Entrepreneur Magazine's "Top 40 Under 40" for founding American Wholesale Floral, Politz is also the Co-founder of the Proof Awards and the CPG Awards and a partner in numerous consumer brands across the food and beverage sector.