The Financial Post reports in its Tuesday edition that Enbridge chief development officer Vern Yu calls renewable power the company's "smallest and our newest, but also our fastest-growing business unit." The Post's Geoffrey Morgan writes that Mr. Yu says, "We are able to make investments in this business where the investment proposition is right in the middle of the fairway where the risks and rewards are very similar to our core pipeline and utility businesses." Enbridge, North America's largest pipeline company, expects to spend $7-billion during the next five years in offshore wind projects in Europe, which Mr. Yu says is becoming cost-competitive with "hydrocarbon power generation." A new generation of wind turbines, which once could generate only two megawatts of power, are now on their way to producing 10 megawatts and more, says Mr. Yu, which helps drive down costs. Similarly, Shell Canada president Michael Crothers says his company is preparing to bid on renewable power projects in Alberta as the province phases out coal-fired power by 2030 and looks to replace that capacity with green energy. Parent company Royal Dutch Shell PLC owns significant wind power generation in the U.S. and Germany.