Boralex is an independent producer of onshore wind, hydro, thermal, and solar power. It develops, builds, and operates renewable energy power facilities in Canada, France, and the U.S.
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I recommended taking half profits when Boralex’s share price ran up in the enthusiasm for all types of renewable energy companies at the end of 2020. The price subsequently fell by over 30% in the first half of 2021. With the price below $40, still up 75% from our initial recommendation, Boralex is now a Buy. The new acquisitions in Texas and New Mexico will contribute to a meaningful increase in EBITDA and cash flow. Also, there is more upside as wind farms can be reengineered with new turbines.- Gavin Graham
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