The Globe and Mail reports in its Saturday edition that on Friday, Enbridge said it
has moved to further diversify
its portfolio of oil and gas pipelines
throughout Canada and the
United States, natural-gas distribution
in Ontario, and solar, hydroelectric,
geothermal
power-generation projects, and
wind. The Globe's Jacqueline Nelson writes that the firm confirmed
reports that emerged last year
that it would take a 49.9-per-cent
interest in state-owned German
utility EnBW's North Sea
offshore wind project. Enbridge
said it finalized its purchase this
month, and will make a total
investment of about
$1.7-billion.
In releasing its fourth quarter
and full 2016 results on Friday,
Enbridge reported it had $1.78-billion of net income last year or
$1.95 per share. It
had $2.08-billion or $2.28 a
share of adjusted earnings, after
excluding a number of items.
In the fourth quarter ended
Dec. 31, Enbridge had $365-million
of net income or 39 cents a
share. Adjusted earnings were
$522-million or 56 cents a share.
It
also said after recovering some
amounts from potential shippers,
it will take an impairment
of $373-million or $272-million
after tax on its rejected Northern
Gateway project.
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