Enbridge Income Fund completes acquisition of US$1.23B portfolio of renewable energy assets from Enbridge subsidiaries that includes 190-MW Enbridge Ontario, 99-MW Talbot wind projects, 80-MW Sarnia solar park; company now has 405 MW of renewable capacity
October 21, 2011
– Increases interests in renewable generating capacity to 405 megawatts
Enbridge Income Fund Holdings Inc. (the "Company") (TSX:ENF) and Enbridge Income Fund ("the Fund") announced the closing today of the acquisition by the Fund of a portfolio of renewable energy assets. The Fund acquired 100% interests in the 190-megawatt (MW) Enbridge Ontario Wind Project, the 99-MW Talbot Wind Project and the 80-MW Sarnia Solar Project, which is the largest operating photovoltaic solar facility in the world, for $1.23 billion from indirect wholly-owned subsidiaries of Enbridge Inc. (TSX, NYSE: ENB).
Immediately prior to closing of the acquisition, subscription receipts ("Subscription Receipts") issued by the Company were exchanged on a one-for-one basis for 11,707,000 common shares of the Company ("Common Shares") and the Company completed a private placement to Enbridge Inc. of an aggregate of 2,909,000 Common Shares. The Common Shares issued in respect of the Subscription Receipts and Private Placement were listed and posted for trading on the Toronto Stock Exchange on October 21, 2011 and the Subscription Receipts will be delisted.
About Enbridge Income Fund Holdings Inc.
Enbridge Income Fund Holdings Inc. (the "Company") is a publicly traded corporation. The Company, through its investment in Enbridge Income Fund (the "Fund"), holds high quality, low risk energy infrastructure assets. The Fund's assets include a 50% interest in the Canadian segment of the Alliance Pipeline, a 100% interest in the various pipelines comprising the Saskatchewan System, and interests in more than 400 megawatts of renewable and alternative power generation capacity through a portfolio that includes the 80-MW Sarnia Solar Energy Project, four wind projects in Ontario, Alberta and Saskatchewan and a 50% interest in the NRGreen Limited Partnership. Information about Enbridge Income Fund Holdings Inc. is available on the Company's website at www.enbridgeincomefund.com.