Enbridge buys half stake in second EDF wind farm in Quebec
CALGARY, Alberta (Reuters) - Enbridge Inc (ENB.TO: Quote) will buy a 50-percent stake in its second wind-power project in the province of Quebec from Electricite de France's (EDF.PA: Quote) Canadian renewable-energy unit for C$170 million ($172 million), the company said on Thursday.
Canada's No.2 pipeline company and the backer of the controversial C$6 billion Northern Gateway pipeline project, will take the half stake in EDF EN Canada's 150-megawatt Massif du Sud wind farm in Quebec's Chaudiere-Appalaches region, about 100 kilometers (62 miles) east of Quebec City.
Enbridge has been building its portfolio of renewable energy projects to supply power for its own needs and offset its carbon emissions. The company generates more than 1.2 megawatts of green power from wind, geothermal and solar plants in Canada and the United States.
Shares of Enbridge were down 9 Canadian cents at C$42.46 in afternoon trading on the Toronto Stock Exchange.
The Massif du Sud project, expected to be fully operational by year-end, will use 75 wind turbines to generate enough power to supply 35,000 homes, the company said in a statement.
The venture is Enbridge's second with EDF EN Canada. The two companies also co-own the 300-megawatt Lac Alfred project in Quebec's Bas-Saint-Laurent region, 400 kilometers northeast of Quebec City.
($1 = $0.99 Canadian)
(Reporting by Scott Haggett; Editing by Bernadette Baum)
© Thomson Reuters 2014 All rights reserved.