|
|
|
|
Parent Of Energy Marketer Acquires Renewable Project Developer
The following story is brought free of charge to readers by EC Infosystems, the exclusive EDI provider of EnergyChoiceMatters.com
Enbridge Inc. ("Enbridge" or "the Company") announced that it has acquired Tri Global Energy ("TGE"), a U.S. renewable project developer, for US$270 million in cash and assumed debt.
Additionally, up to approximately US$50 million in payments could be made contingent on successful execution of TGE's project portfolio.
"TGE is currently the third largest onshore wind developer in the US, with a development portfolio of wind and solar projects representing more than 7 GW of renewable generation capacity," Enbridge said
"TGE will enhance Enbridge's renewable platform and accelerate our North American growth strategy," said Al Monaco, Enbridge's President and Chief Executive Officer.
TGE's development portfolio includes 3.9 GW of renewable generation projects TGE previously sold to operators, which Enbridge said will generate development fees and accretion to distributable cashflow per share in the first year following the acquisition of TGE, plus 3 GW of late-stage development of wholly owned projects are expected to be placed into service between 2024 and 2028
TGE's development team will remain in place following closing of the transaction
ADVERTISEMENT ADVERTISEMENT Copyright 2010-22 Energy Choice Matters. If you wish to share this story, please
email or post the website link; unauthorized copying, retransmission, or republication
prohibited.
September 29, 2022
Email This Story
Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
NEW Jobs on RetailEnergyJobs.com:
• NEW! -- Sales Development Representative
• NEW! -- Operations Analyst/Manager - Retail Supplier
• NEW! -- Customer Success
• NEW! -- Market Operations Analyst
• NEW! -- Operations Manager - Retail Supplier
• NEW! -- Marketing Associate - Retail Supplier
• NEW! -- Supervisor-Commercial Operations
• NEW! -- Customer Data Specialist
• NEW! -- Director, Regulatory Affairs, Retail Supplier
• NEW! -- Account Manager Project Manager
• NEW! -- Retail Energy Policy Analyst
• NEW! -- Incentive Specialists
• NEW! -- Utility Rates Specialist
• NEW! -- Customer Onboarding Specialist
• NEW! -- Energy Performance Engineer
|
|
|