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Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 929,227,712
Close 2016-07-15 C$ 53.94
Market Cap C$ 50,122,542,785
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Globe/wire say Enbridge vies for wind-park interest

2016-07-18 06:42 ET - In the News

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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