Enbridge to invest $1.7 billion in wind farm as pipeline business gathers steam

2/21/2017

Energy giant Enbridge Inc. is making big inroads into renewables even as changes in government policies are paving the way for the rapid expansion of its traditional oil and gas pipeline business.

The company said Friday it was investing $1.7 billion for 50 per cent of the Hohe See wind energy project off the coast of Germany, which follows last year's $282-million buy of a 50 per cent stake in a group of French offshore wind projects.

"It's clear that we're going to need all sources of supply to meet growing global energy demand, and that includes renewable supplies," said Enbridge CEO Al Monaco in an earnings conference call.

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