Enbridge acquires West Virginia wind project for $200M
Energy firm continues branching out, adding 103 megawatts of capacity with latest renewable buy
CALGARY—Enbridge Inc.’s push into renewable energy continues.
The company has announced it has acquired a 100 percent interest in a 103 megawatt wind project in Grant County, West Virginia. Enbridge will take control of the entire stake in the project from EverPower Wind Holdings LLC for approximately $200 million.
“With strong fundamentals and commercial underpinnings, the New Creek Wind Project is a strong fit within our low-risk value proposition, and advances a key corporate priority of growing our renewable generation platform,” Vern Yu, senior vice-president of Corporate Planning and Chief Development Officer at Enbridge, said.
Enbridge said the project will eventually comprise 49 Gamesa G97/G90 turbines and is scheduled to enter service in Dec. 2016. The Calgary-based energy firm also noted the project is backed by renewable energy credit sales and is guaranteed fixed pricing through mid-and-long-term contracts.
The company’s latest buy brings its renewable power and transmission investments to more than $5 billion since 2003. The company now has a stake in more than 2,000 MW of renewable generating capacity.