Environment & Energy Report

Canada’s Enbridge to Buy Stake in U.S. Wind Farms

Nov. 28, 2014, 5:00 AM

Enbridge Inc., Canada’s largest pipeline operator, will buy a majority stake in two U.S. wind farms worth $650 million owned by the German utility EON SE. Enbridge will own 80 percent of the 203-megawatt Magic Valley 1 wind farm in Texas and the 202-megawatt Wildcat 1 wind farm near Elwood, Ind., the Calgary-based company said Nov. 28 in a statement. Enbridge is expanding its renewable generation business to offset carbon emissions from its bigger fossil-fuel related businesses. The projects bring the total renewable capacity owned by Enbridge to more than 1.6 gigawatts. It has invested about $3 billion in renewable...

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