Wind Wednesday – Canada Pension Plan Inks $1.75-Billion Renewable Energy Investment With Enbridge

The CPPIB and Enbridge are set to form a joint venture with for solar and wind energy projects.


CalgaryMay 9, 2018  –

Enbridge Inc. has signed a deal for the Canada Pension Plan Investment Board to buy 49 per cent of the pipeline company’s interests in a group of renewable power assets for $1.75 billion.

Calgary based Enbridge Inc. says the agreement will see the creation of a joint venture that includes all its Canadian renewable power assets, as well as the Cedar Point Wind Farm in Colorado and the Silver State North Solar Project in Nevada.

The deal also includes Enbridge’s renewable energy interests in two German offshore wind projects.

It is noted that Enbridge and its affiliates will continue to manage, operate and provide administrative services for the renewable power assets.

Good news for CPPIB too –

In a news release, the CPPIB said it is buying a stake in 14 long-term fully contracted operating wind and solar assets in four Canadian markets. With the two plants in the U.S., there is a combined installed capacity of approximately 1.3 gigawatts, it said.

“Since December 2017, CPPIB has committed to wind and solar investments in Brazil, India, Canada, and now the U.S. and Germany,” said Bruce Hogg, managing director and head of power and renewables for the CPPIB.

The Canada Pension Plan investment in Renewable Energy is in my opinion is fine. Atleast they practice what they preach… The same can’t be said for the B.C government’s pension fund that is investment buckets of money into Canadian and American Oil Companies… Yes! Really!

 

Inuvik eyes Wind Power as their next ‘priority’


From CBC:

Potential project brings new power to highest diesel consumption community in the territory

The territorial government is hoping it found a more sustainable solution. As part of their 2030 Climate Change and Energy Strategy, the Department of Infrastructure announced the Inuvik Wind Project is one of the more viable options for sustainable energy in the Beaufort Delta region.

Burning diesel up north is a BIG industry. In my opinion getting federal support on renewable projects is fair game, but make sure you GET your money Inuvik! The current administration has a habit of making promises!
That’s your Wind Wednesday!
Cheers!
Kelly Hall

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