Enbridge acquires 50% of wind farm for $170 million
Canadian Enbridge Inc. (TSX:ENB) (NYSE:ENB) said Thursday it will invest $170 million to acquire a 50% stake in the 150-megawatt Massif du Sud wind farm in Quebec.
The firm, which is also the largest transporter of Canadian oil to the U.S., said the investment is in partnership with EDF EN Canada, a company involved in renewable energy development.
This is Enbridge’s second wind project in the province after its co-investment with EDF in the 300-MW Lac Alfred wind farm.
The Massif du Sud farm consists of 75 wind turbines.
Construction started over a year ago, in November 2011, and is expected to be completed before the end of 2012.
Once fully operational, the project will generate enough clean electricity to meet the needs of about 35,000 homes.