Boralex

The story of Boralex begins not as an independent venture, but as a strategic move by an established player. In 1990, Cascades, a Quebec-based paper and packaging company, entered the energy sector to power its operations, creating a natural gas plant. This initiative was led by Bernard Lemaire, co-founder of Cascades, who had the vision to enter the renewable energy space. In 1995, Cascades acquired Boralex, a joint venture originally founded in 1982, and established its headquarters in Kingsey Falls, Quebec. This marked the formal beginning of Boralex's journey. A pivotal moment arrived in 1997 when Boralex held its first public share offering on the Toronto Stock Exchange to fund acquisitions and solidify its financial standing. This step allowed the company to expand its asset portfolio significantly. A year later, Boralex went international, acquiring its first hydroelectric power station in France and entering the thermal energy market in the United States. The company continued to diversify, venturing into wind power in 2002 with its first wind farm in France, a country where it would eventually become the largest independent producer of onshore wind energy. Over the years, Boralex grew through strategic acquisitions and development, expanding its portfolio across wind, solar, and hydroelectric power. A significant shift in its ownership structure occurred in 2017 when Caisse de dépôt et placement du Québec (CDPQ) became the main shareholder after purchasing all of Cascades' remaining shares. Today, Boralex operates in Canada, France, the United States, and the United Kingdom, managing a diverse portfolio of renewable energy assets.