Enbridge Inc. today announced the acquisition of a 100 percent interest in the 103-megawatt (MW) New Creek Wind Project, from EverPower Wind Holdings, LLC. Enbridge's total investment is approximately US$0.2 billion.
Located in Grant County, West Virginia, New Creek Wind will comprise 49 Gamesa G97/G90 turbines and is targeted to be in service in December 2016. The project was developed by EverPower Wind Holdings LLC., an independent U.S. renewable energy developer.
"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," said Vern Yu, Senior Vice President, Corporate Planning and Chief Development Officer, Enbridge Inc. "We welcome the relationship with EverPower, a safe and community-focused developer, owner and operator of U.S. wind projects."
The project is backed by renewable energy credit (REC) sales and off take agreements with fixed pricing through mid-and-long-term contracts.
New Creek will be constructed under a fixed-price engineering, procurement and construction (EPC) agreement with White Construction Inc. Gamesa will provide turbine operations and maintenance (O&M) services under a five-year fixed price contract, following which Enbridge will operate.
Including this acquisition, Enbridge has invested approximately CAD $5 billion in renewable power generation and transmission since 2002. Enterprise-wide, the Company now has interests in nearly 2,000 MW of net renewable generating capacity operating, secured or under construction.
Source: Enbridge Inc.
Date: Nov 25, 2015