Enbridge completes sales of energy assets for US$2.4 billion
Enbridge Inc. has announced that it has closed previously announced agreements to sell its U.S. midstream businesses and monetize a portion of its renewables business for combined cash proceeds of approximately CAD3.15 billion (US$2.42 billion).
The company's U.S. midstream business, Midcoast Operating, L.P. and its subsidiaries, has been sold to an affiliate of ArcLight Capital Partners, LLC for approximately CAD1.4 billion (US$1.1 billion) in cash. These businesses operate in U.S. natural gas and natural gas liquids (NGL) gathering, processing, transportation and marketing, serving established basins in Texas, Oklahoma and Louisiana.
Enbridge has also closed the sale of a 49% interest in select North American onshore renewable power assets, as well as a 49% interest in two German offshore wind projects (Hohe See and related expansion), to Canada Pension Plan Investment Board (CPPIB) for approximately CAD1.75 billion (US$1.34 billion) in cash, through newly created joint ventures.
Country updates
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August 01, 2018
Atlantic Power completes acquisition of Koma Kulshan hydro project
Covanta has completed the sale of the 13.3 MW Koma Kulshan run-of-the-river hydropower project to Atlantic Power Corporation. The $12 million-deal was paid to purchase the rem...
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August 01, 2018
Standard Solar completes 9.8 MW solar farm in New Mexico
The completed project involves the construction of 28,896 panel single-axis tracker array for photovoltaic solar farm. The project is located in Gallup, New Mexico, USA. The capacity of the...
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August 01, 2018
Lincoln Clean Energy signs first PPA for 230 MW wind project in the USA
The J. M. Smucker Company, an American manufacturer of various food products, has announced that it has entered into a long-term power purchase agreement (PPA) with Lincoln Clean Energy (LCE) for...
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August 01, 2018
Zahid Group unit closed acquisition of 50% stakes in Greencells
Greencells, an independent European solution provider for solar photovoltaic (PV) power plants, has concluded a strategic investment with OMAS, a wholly-owned subsidiary of the Zahid Group,...
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July 31, 2018
Duke Energy starts construction of 75 MW solar project in Florida
Duke Energy has announced that construction is underway at the Hamilton Solar Power Plant, located in Hamilton County, Florida. The plant will have an installed capacity of 74.9 MW, consisting of...
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