CALGARY, ALBERTA and MONTREAL, QUEBEC
-- (MARKET WIRE)
Enbridge Inc. (TSX:ENB) (NYSE:ENB) and EDF EN Canada Inc. announced today that they have entered into an agreement under which Enbridge will invest approximately $170 million to acquire a 50 per cent interest in the 150-megawatt (MW) Massif du Sud Wind Project in Quebec.
"Massif du Sud is Enbridge's second wind project in Quebec following our co-investment with EDF EN Canada in the 300-MW Lac Alfred project," said Don Thompson, Vice-President, Green Energy. "The Government of Quebec's continuing support of renewable energy generation with a wind capacity target of 4,000 MW by 2015, combined with our successful partnership with EDF EN Canada is an attractive combination for Enbridge."
"The project also demonstrates Enbridge's interest in investing in renewable infrastructure across Canada," Mr. Thompson added. "We're pleased to again partner with EDF EN Canada Inc. on the Massif du Sud Wind project."
"The partnership we initiated last year with Enbridge on the Lac Alfred project has proven to be very successful and we are pleased to once again engage in a co-ownership relationship with Enbridge," said Tristan Grimbert, President and CEO of EDF EN North America. "As an integrated operator we take a balanced approached to our project portfolio and this agreement provides an opportunity to further our ambition as a world-class renewable project developer. The mutual confidence and collaboration between our two companies demonstrates solid business practices and secures a strong Quebec and Canadian presence."
The project, located in the municipalities of Saint-Luc-de-Bellechasse and Saint-Magloire in the MRC des Etchemins and in the municipalities of Notre-Dame-Auxiliatrice-de-Buckland and Saint-Philemon in the MRC de Bellechasse, consists of 75 wind turbines supplied by REpower, and made with regionally-manufactured blades, towers and converters in accordance with the power purchase agreement with Hydro-Quebec.
Construction began in November 2011, and is expected to be completed in December 2012. When fully operational, the project will generate enough clean electricity to meet the needs of about 35,000 homes.
EDF EN Canada Inc.'s operation and maintenance affiliate, EDF Renewable Services Canada Inc. will provide long-term operations and maintenance (O&M) services. Hydro-Quebec will buy the power under a 20-year power purchase agreement (PPA).
Massif du Sud will also contribute to helping Enbridge meet its Neutral Footprint commitment to generate a kilowatt of renewable energy for every kilowatt of conventional electricity that the company's operations consume.
Massif du Sud Wind Project at a glance:
Location: Chaudiere-Appalaches Region (100 kilometers
east of Quebec City)
Capacity Peak: 150 MW
Expected Annual Yield: 500,000 MWh
Equivalent Homes Served: About 35,000
Technology (turbines): 75 REpower turbines
Construction: Began November 2011/ Expected completion
Energy Purchaser: Hydro-Quebec Distribution (under a 20-year
Interconnection: Hydro-Quebec TransEnergy
Estimated Peak Work Force: More than 250 jobs during peak construction;
up to 10 local, full-time operational jobs
About EDF EN Canada Inc.:
EDF EN Canada, an EDF Energies Nouvelles Company, is a market leader in renewable energy development, with an integrated approach that covers every aspect of project origination and implementation through to electricity generation, operations and maintenance. The company offers financial strength, technical innovation and an unmatched commitment to customer service. EDF EN Canada draws on the market leadership of EDF Renewable Energy, formerly enXco, EDF EN's American affiliate. EDF Energies Nouvelles is a subsidiary of the EDF group. www.edf-energies-nouvelles.comwww.edf-en.ca
About EDF Renewable Services Canada Inc:
EDF Renewable Services Inc - formerly enXco Service Corporation - is the leading third-party provider of operations and maintenance services in North America. With 25 years of experience, EDF Renewable Services understands renewable energy facilities represent a substantial investment. The company takes an owner-operator approach to ensure maximum returns on the asset, full project value, and ongoing profitability for new and existing facilities. As part of a global organization with utility-scale wind and solar plants, the company brings depth of experience to every project. With more than 6 gigawatts of wind and solar under contract, EDF Renewable Services is the trusted leader in O&M. For more information visit: www.edf-renewable-services.com
About Enbridge Inc.
Enbridge Inc. is a North American leader in delivering energy and one of the Global 100 Most Sustainable Corporations. As a transporter of energy, Enbridge operates, in Canada and the U.S., the world's longest crude oil and liquids transportation system. The Company also has a significant and growing involvement in natural gas gathering, transmission and midstream businesses, and an increasing involvement in power transmission. As a distributor of energy, Enbridge owns and operates Canada's largest natural gas distribution company, and provides distribution services in Ontario, Quebec, New Brunswick and New York State. As a generator of energy, Enbridge has interests in close to 1,000 megawatts of renewable and alternative energy generating capacity and is expanding its interests in wind and solar energy, geothermal and hybrid fuel cells. Enbridge employs more than 10,000 people, primarily in Canada and the U.S. and is ranked as one of Canada's Greenest Employers and one of Canada's Top 100 Employers for 2013. Enbridge is included on the 2012/2013 Dow Jones Sustainability World Index and the Dow Jones Sustainability North America Index and is also a constituent of the 2012/2013 FTSE4Good Index Series. Enbridge's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit www.enbridge.com.
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EDF EN Canada Inc.
Public Affairs Manager
EDF EN Canada Inc.
Director, Marketing & Communications
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