Enbridge Inc. is making its first foray into the Quebec wind energy market with a $330-million agreement to pick up a stake in a local wind project.
The company said Thursday that has agreed with EDF EN Canada Inc. to make the investment for a 50-per-cent interest in the 300-megawatt Lac Alfred Wind Project north east of Quebec City.
"The Lac Alfred Project marks Enbridge's entrée into the growing Quebec wind energy market, the second largest in Canada," said Al Monaco, president of gas pipelines and, green energy at Enbridge.
"Quebec is an attractive investment environment for us given the province's wind capacity target of 4,000 megawatts by 2015, the availability of long-term power purchase arrangements there, and the province's accessible transmission infrastructure."
Enbridge, with 6,400 employees, operates the world's longest crude oil pipeline network and is Canada's largest natural gas distribution company through Enbridge Gas Distribution Inc., which has nearly two million residential, commercial and industrial customers in Ontario, Quebec and upper New York State.