Hey there! I imagine you mean the Apuiat wind farm! Boralex is a 50-50 partner, and will split the profits generated with the Innu communities.
It's strong news for the company, especially considering it comes with a 30 year contract to purchase the electricity that will be produced by the project.
Keep in mind, just a few days ago the company also closed on some solar farms in the United States. Definitely an active last few days for the company.
The company is pretty expensive right now. But, it does have strong aspirations for growth and if it can hit them, could be a solid renewable play. Just know that like all renewable plays, prices have ran up a ton as renewables are gaining more steam. This can ultimately mean more volatility in the case of a price correction.
Case in point, we removed Polaris Infrastructure off our Bull List at $23 due to it running up a little too high. During the whole market unrest during the Gamestop fiasco, it lost nearly 12% in two trading days.
Since 2014 Boralex has a 25% compound annual growth rate on EBITDA. To put this kind of growth together for 7 straight years is fairly impressive. Company is also been consistently raising the dividend.
Overall though, really like the company. It's just expensive right now. Compare it to other renewables players like Northland Power, Algonquin Power and Utilities and Transalta Renewables and it's the most expensive of the bunch, by a landslide.
If you're buying for the long term though, I don't think you'd be disappointed. Company has a nice profile.