Enbridge Acquires 50% Interest In 300 MW Wind Project

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Enbridge Inc. and EDF EN Canada Inc. have signed an agreement under which Enbridge will invest about $330 million to acquire a 50% interest in and become a co-owner of the 300 MW Lac Alfred Wind Project.

The project, located 400 km northeast of Quebec City in Quebec's Bas-Saint-Laurent region, will consist of 150 wind turbines supplied by REpower and made with locally manufactured blades, towers and converters.

Construction is slated to take place in two phases: Phase 1, which began in June 2011, is expected to be finished in December 2012, and Phase 2 is expected to be completed in December 2013.

EDF EN Canada will continue to lead and manage the construction phase under a fixed-price, turnkey engineering, procurement and construction agreement. EDF EN Canada's operations and maintenance affiliate, enXco Service Canada Inc., will provide long-term operations and maintenance services. Hydro-Quebec will buy the power under a 20-year power purchase agreement and construct the 30-km transmission line to connect the project to the grid under an interconnection agreement.

The transaction is subject to customary conditions, including the consent and approval of Hydro-Quebec Distribution and Hydro-Quebec TransEnergie.

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