Enbridge (ENB) Tops Q1 EPS by 38c

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Go back to Enbridge (ENB) Tops Q1 EPS by 38c

Enbridge (ENB) Agrees to Divest 49% of Select Renewable Power Assets in North America & Europe to Canada Pension Plan Investment Board in ~$1.74B Deal

May 9, 2018 7:22 AM EDT

Canada Pension Plan Investment Board (CPPIB) announced today that it has signed agreements with Enbridge Inc. (NYSE: ENB) and its related entities (Enbridge) to acquire 49% of Enbridges interests in select North American onshore renewable power assets, as well as 49% of Enbridges interests in two German offshore wind projects (Hohe See, and related expansion), for approximately C$1.75 billion.

Through this investment, we are able to gain immediate exposure to a high-quality portfolio of wind and solar assets across diversified energy markets in North America and Europe, further advancing our global power and renewables strategy,... More