-13.8 C
Fort St. John
Friday, November 16, 2018
Tel: 250-787-7100
Email: contact@energeticcity.ca
9924 101 ave Fort St. John, B.C.
Advertisement
Advertisement
Advertisement

Enbridge and CPPIB sign renewable power deal, create joint venture

Advertisement

CALGARY, A.B. — Enbridge Inc. has signed a deal for the Canada Pension Plan Investment Board to buy 49 per cent of the pipeline company’s interests in a group renewable power assets for $1.75 billion.

Enbridge says the agreement will see the creation of a joint venture that includes all its Canadian renewable power assets, as well as the Cedar Point Wind Farm in Colorado and the Silver State North Solar Project in Nevada.

The deal also includes Enbridge’s interests in two German offshore wind projects.

Enbridge says it will keep its interests in certain other U.S. renewable power assets.

Under agreement, CPPIB has agreed to fund its share of the remaining costs to complete the German offshore wind projects, estimated at about $500 million, bringing the pension fund’s total commitment to about $2.25 billion.

Enbridge and CPPIB have also signed a deal to form a 50-50 joint venture to pursue future European offshore wind projects.

Advertisement
Advertisement
Advertisement
Advertisement

Local Events

Doc Walker to play the Lido Theatre

HYPNOTIST: RAY ANDERSON

Jokes N Tokes Comedy Tour

Advertisement

Must Read

Recall on several children’s strawberry-flavoured acetaminophen syrups

OTTAWA, ONT - Health Canada has issued a recall on several children's strawberry-flavoured acetaminophen syrups because of defective child-resistant safety caps on the bottles ISSUE...