Enbridge (TSX: ENB) (NYSE:ENB) and EDF EN Canada said July 22 that they have closed on an agreement under which Enbridge would acquire a 50% interest in the 80-MW Saint-Robert-Bellarmin Wind Project in Quebec.
Located in the municipality of Saint-Robert-Bellarmin, about 300 kilometers east of Montreal, the project reached commercial operation in October 2012 and delivers energy to Hydro-Quebec Distribution under a 20-year Power Purchase Agreement.
“Renewable energy plays an important role in Enbridge’s long-term strategy by laying the foundation for a more diversified future asset base and for continued growth and prosperity for our company,” said Don Thompson, Vice President, Green Energy & Power Transmission. “The acquisition of 50 percent of Saint-Robert-Bellarmin is Enbridge’s third partnership with EDF EN Canada for wind power facilities in Quebec’s attractive wind energy market, delivering solid returns and stable cash flow.”
“Our partnership with Enbridge on both the Lac-Alfred and Massif du Sud projects has proven to be very successful and we are pleased to once again engage in a co-ownership relationship,” said Tristan Grimbert, President and CEO of EDF EN North America. “Bringing the strengths of both companies to the market ensures that clean renewable power is delivered to the province at an affordable cost.”
Built by Borea Construction, the project is made up of 40 REpower 2-MW turbines. EDF EN Canada’s operation and maintenance affiliate EDF Renewable Services will continue to provide long-term operations and maintenance (O&M) services.
Saint-Robert-Bellarmin adds to Enbridge’s existing portfolio of nearly 1,600 MW of renewable energy projects, helping the company continue its Neutral Footprint commitment of generating a kilowatt of renewable energy for every additional kilowatt of conventional power its operations consume.
Saint-Robert-Bellarmin is one of seven wind energy projects awarded to EDF EN Canada in 2008 and 2010 through Hydro-Quebec call for tenders. By the end of 2015, EDF EN Canada will have developed and built a total of 1,003.2 MW in the province.
EDF EN Canada, an EDF Energies Nouvelles company, is a market leader in renewable energy development, with an integrated approach that covers every aspect of project origination and implementation through to electricity generation, operations and maintenance. EDF EN Canada draws on the market leadership of EDF Renewable Energy, its American affiliate.
Enbridge owns and operates Canada’s largest natural gas distribution company, and provides distribution services in Ontario, Quebec, New Brunswick and New York State. As a generator of energy, Enbridge has interests in close to 1,600 MW of renewable and alternative energy generating capacity and is expanding its interests in wind, solar and geothermal energy.