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Enbridge asset transfer enables further investment in wind projects
1 October 2006
Canadian oil and gas company Enbridge is transferring its western Canadian wind assets to the Enbridge Income Fund. The fund is buying Enbridge's 50% interest in the 11.2 MW SunBridge project in Saskatchewan, its one-third shares in the just opened 30 MW Chin Chute project in Alberta and in the existing 30 MW Magrath project, also in Alberta, for C$42 million. "Investments in wind power are an attractive opportunity for growth, and these three wind power projects are underpinned by long term power purchase agreements, with strong, creditworthy counterparties, that are expected to provide stable and sustainable cash flow," says Jim Shultz of the fund's manager.
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