Acquires Interest In Wind Projects

NAW Staff
by NAW Staff
on September 21, 2006 No Comments
Categories : New & Noteworthy

Enbridge Income Fund has agreed to acquire Enbridge Inc.'s interests in three wind power projects in western Canada for $42 million plus post-closing purchase price agreements – the SunBridge project at Gull Lake, Saskatchewan (50% interest), and Magrath and Chin Chute projects in Alberta (33.3% interest each).

The three projects will collectively have the capacity to generate 71 MW of power, the company says. They are an attractive investment because of the long-term power purchase agreements that are expected to provide a stable cash flow to the fund.

‘The acquisition is an excellent fit for Enbridge Income Fund,’ says Jim Schultz, Enbridge Management Services Inc.'s president, ‘and is a first step in initiating the acquisition-based component of the fund's growth strategy to acquire energy infrastructure assets.’

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