Brookfield Asset Management and Caisse de dépôt et placement du Québec (La Caisse) have agreed to a C$9 billion takeover of Boralex, the Canadian renewable energy company announced.

The acquisition represents a significant consolidation move in the renewable energy sector, bringing together two major institutional investors to acquire one of Canada's prominent wind and solar power developers.

Boralex operates renewable energy facilities across Canada, France, the United Kingdom, and the United States, with a portfolio that includes wind, solar, hydroelectric, and thermal power generation assets.

The transaction would combine Brookfield's expertise in infrastructure investments with La Caisse's long-term investment approach, positioning the buyers to expand Boralex's renewable energy operations.

Financial details beyond the C$9 billion valuation were not immediately disclosed. The deal remains subject to regulatory approvals and customary closing conditions.