05:03:23 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 929,227,712
Close 2016-08-02 C$ 52.94
Market Cap C$ 49,193,315,073
Recent Sedar Documents

Globe/wire say Enbridge buys into Europe's Hohe See

2016-08-03 07:06 ET - In the News

The Globe and Mail reports in its Wednesday, Aug. 3, edition that an unnamed source says Enbridge has won the auction for an interest in EnBW's Hohe See, one of Europe's largest offshore wind power projects. A Reuters dispatch to The Globe reports that once completed, Hohe See, expected to cost as much as $2.9-billion, will produce enough power to supply about 560,000 homes. EnBW plans to make a final investment decision toward the end of the year. Sources had told Reuters in July that Enbridge and Australia's Macquarie were both vying for the interest of up to 49.9 per cent. A second source with knowledge of the matter told Thomson Reuters PFI that consultants who had been working on debt financing for the project were no longer involved. Of the two bidders, only Macquarie required debt financing, banking sources said. The move further strengthens Enbridge's footprint in Europe's booming offshore industry, which already covers a 24.9-per-cent interest in E.ON's Rampion project as well as a strategic partnership with France's EDF. Enbridge in November pointed to the offshore wind industry's "strong market fundamentals, sound commercial underpinnings and attractive returns."

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