• 3 minutes Will Variants and Ill-Health Continue to Plague Economic Outlooks?
  • 6 minutes Forecasts for Natural Gas
  • 14 minutes NordStream2
  • 13 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 13 hours Communist China Declared War on the US Long Ago Part 1 of the 2-part series: The CCP's War on America
  • 1 min China's aggression is changing the nature of sovereignty.
  • 15 hours Delta variant in European Union
  • 3 days Ukrainian Maidan after 8 years
  • 21 hours President Biden’s Nuclear Option Against OPEC+ - Waste of Time
  • 4 days OPEC+ Expects Large Oil Glut In Early 2022
  • 2 days Сryptocurrency predictions
  • 4 days CO2 Electrolysis to CO (Carbon Monoxide) and then to Graphite
  • 4 days Microbes can provide sustainable hydrocarbons for the petrochemical industry
  • 4 days Hunter Biden Helped China Gain Control of Cobalt Mines in Africa

Breaking News:

SPR Tender Attracts Two Foreign Bidders

MINING.com

MINING.com

MINING.com is a web-based global mining publication focusing on news and commentary about mining and mineral exploration. The site is a one-stop-shop for mining industry…

More Info

Premium Content

Enbridge Buys Into North Sea Wind Park At $1.7B

Enbridge (TSX, NYSE:ENB), Canada's largest pipeline company, has acquired a 49.9 percent stake in German energy firm EnBW’s offshore wind park in a $1.7 billion deal including financing and transaction costs.

EnBW’s 1.8 billion euro ($1.9 billion) Hohe See wind park, to be located in the North Sea, has a planned capacity of about 500 megawatts (MW), which makes it one of Europe’s largest projects of its kind and the German utilities company’s largest park to date.

Enbridge and EnBW will jointly finance the wind park from construction through to commissioning in 2019, shouldering roughly half the investment sum each.

EnBW will be in charge of operating and maintaining the finished park based on a service and management contract, it said in a statement.

The partnership opens the door for Enbridge to participate in EnBW’s expansion project Albatros, for which an investment decision is expected early this year.

The Calgary-based company, which is mainly involved in oil and gas pipelines throughout Canada and the US and natural gas distribution in Ontario, said Thursday it had won US antitrust approval for a $28-billion merger Spectra Energy Corp. The deal creates North America’s biggest energy infrastructure company.

Enbridge logged Friday $1.78 billion in net income for 2016, or $1.95 per common share. It had $2.08 billion, or $2.28 per share of adjusted earnings, after excluding a number of items.

In the fourth quarter ended Dec. 31, it had $365 million of net income, or 39 cents per share. Adjusted earnings were $522 million or 56 cents per share.

By Cecilia Jamasmie via Mining.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News