Solar

Enbridge to Acquire 20-MW First Solar Project

Enbridge and First Solar have entered into an agreement for Enbridge to acquire a 20-megawatt (MW) solar energy project that First Solar has developed and is constructing near Sarnia, Ontario.

The Sarnia Solar Project is expected to be completed by the end of 2009 and be the largest photovoltaic solar energy facility in operation in Canada and one of the largest in North America.

Under the terms of the agreement, First Solar is constructing the solar project under a fixed price engineering, procurement and construction contract, utilizing its thin film photovoltaic technology. The power output of the facility will be sold to the Ontario Power Authority pursuant to a 20-year Power Purchase Agreement under the terms of the Ontario Government’s Renewable Energy Standard Offer Program.

“We’re pleased to work with First Solar, the global leader in solar energy, in the commercialization of this project,” said Patrick Daniel, president and CEO of Enbridge Inc. “In 2009, Enbridge’s investment in solar energy will be approximately CAN $100 million. We plan to continue to invest in further renewable energy investments which have similar risk and return characteristics, including potential additional investments in Ontario.”