Green power helps Enbridge

Article Excerpt

ENBRIDGE INC. $47.11 (Toronto symbol ENB; Shares outstanding: 806.5 million; Market cap: $38.8 billion; TSINetwork Rating: Above A v e r a g e ; D i v i d e n d y i e l d : 2 . 7 % ; www.enbridge.com) has formed a 50/50 partnership with France’s EDF Energies Nouvelles to buy the Blackspring Ridge wind farm in Alberta for $600 million. This facility will produce 300 megawatts of power when it’s finished in mid-2014; Enbridge now generates 1,169 megawatts of wind power. Blackspring Ridge has long-term, fixed-price deals in place for its power. That cuts the risk of this investment. Expanding its renewable energy holdings also helps Enbridge improve its relationships with regulators and environmentalists. Enbridge is a buy. buy…