The Globe and Mail reports in its Saturday, July 16, edition that three unnamed sources say Enbridge and Australia's
Macquarie Group are vying
for a 49.9-per-cent interest in
EnBW's $2.9-billion
offshore wind-park project Hohe
See. A Reuters dispatch to The Globe reports that
sources say EnBW, Germany's third-largest
utility, is asking for final bids by
the end of this month. One source says
that Enbridge was seen as the
front-runner in the auction.
With a planned capacity of 500
megawatts, Hohe See is one of
Europe's largest offshore wind-park
projects and would be
EnBW's biggest park to date, as
the group aims to increase the
share of renewables in its generation
mix to more than 40 per cent
by 2020 from 19 per cent in 2012.
Most upfront financing for offshore
wind parks usually comes
from utilities, but the price tag of
at least $1.4-billion apiece
means that outside money is crucial.
Hohe See alone is expected
to swallow investments of up to
$2.86-billion.
Enbridge and Macquarie have emerged as keen investors in Europe's energy infrastructure sector, which is seeing heavy M&A activity as pension funds and energy groups seek the steady returns big wind parks offer.
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