Enbridge to acquire 50% stake in Canadian wind project

7 November 2011 (Last Updated November 7th, 2011 18:30)

Enbridge will invest $300m to acquire 50% ownership of the 300MW Lac Alfred Wind Project, currently under construction in Quebec, Cananda.

Enbridge will invest $300m to acquire 50% ownership of the 300MW Lac Alfred Wind Project, currently under construction in Quebec, Cananda.

The investment proposal is in line with a deal signed between Enbridge and EDF EN Canada, which are delivering the project under the terms of a prior turnkey engineering, procurement and construction (EPC) agreement.

The transaction is subject to regulatory approvals, including consent from Hydro-Quebec Distribution and Hydro-Quebec TransEnergie.

German wind turbine company Repower will supply 150 wind turbines for the project which will be equipped with blades, towers and converters.

EnXco Service Canada, an EDF EN Canada affiliate, will provide long-term operations and maintenance (O&M) services for the project, which will meet the energy needs of 70,000 homes in the region.

Under a 20-year power purchase agreement, Hydro-Quebec is expected to purchase the power and construct a 30km transmission line to connect the project to the grid.

The first phase of construction is expected to be complete in December 2012 with the second phase finished in December 2013.