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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