26 Feb '17, 5pm

Strategic trend worth following Enbridge buys Spectra Energy.

Calgary-based Enbridge will absorb Houston-based Spectra in an all-stock deal, with the combined company – to be called Enbridge – to carry an enterprise value of around C$165bn ($128bn), putting it in the same league as global energy giants like Sinopec, Total and BP. Although Enbridge is first and foremost a hydrocarbon pipelines company, it has become a fast growing player in renewables, both across North America and more recently in Europe through its investments in several large offshore wind projects. The Spectra deal has the unanimous backing of both companies’ boards and is expected to close in the first quarter of 2017. The combined company would be headquartered in Calgary. Enbridge owns 1.8GW of renewables capacity today, and in an interview last year with Recharge , indicated its intention to triple its capacity by the end of the decade. The newly combined comp...

Full article: http://www.rechargenews.com/wind/1182833/enbridge-to-buy-...

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