CALGARY,
AB, March 27, 2023 /PRNewswire/
- Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the
Company) welcomes the decision by French government to select EDF
Renewables, a wholly-owned subsidiary of the French utility EDF
Group, and Maple Power, the
Company's joint venture with Canada Pension Plan Investment Board
(CPP Investments), to develop the future Normandy offshore wind
farm (Centre Manche 1), with an expected installed capacity of 1
GW.
Following the fourth offshore wind tender launched in
January 2021, the French Ministry of
Energy Transition chose Eoliennes en Mer Manche Normandie, the
project company owned by the EDF Renewables and Maple Power consortium, to design, build,
operate and decommission the project.
"Enbridge is excited to be part of the development of
France's largest offshore wind
farm off the coast of Normandy, which will contribute to the French
government's national strategy for carbon neutrality by 2050," said
Matthew Akman, Executive Vice
President, Corporate Strategy and President, Power. "This decision
further strengthens Enbridge's visible growth in offshore wind and
role as a leader in the energy transition. It also comes at a
crucial time as global energy challenges demonstrate that continued
investment in reliable, secure, clean and affordable energy is
needed."
The planned Normandy offshore wind farm will be located more
than 32 km off the north coast and is expected to be commissioned
around 2030. Over the next few years, planning and permitting will
be finalized, which will require minimal development expenditure
leading to construction later this decade. The fixed-bottom project
is expected to supply the equivalent of the annual consumption of
approximately 1.5 million people, more than half of the electricity
needs of the population of Normandy.
The Normandy offshore wind farm will be Enbridge, EDF Renewables
and its partners' sixth offshore wind project in France. These projects are in development,
construction and operation, including the country's first offshore
wind farm off the coast of Saint-Nazaire (480 MW), which went into
operation in late 2022. The Fécamp (500 MW), Calvados (450 MW)
offshore wind farms, and the Provence Grand Large floating
offshore pilot project (25 MW) are in construction. EDF Renewables
and Enbridge are also pursuing the development of the Dunkirk
offshore wind farm (600 MW). Alongside CPP Investments, EDF and
Enbridge plan to participate in the upcoming Brittany and
Mediterranean floating offshore wind tender processes for an
expected total installed capacity of 750 MW. With its partners,
Enbridge's current operating investment in Europe includes the Rampion offshore wind farm
off the coast of England (400 MW)
and the Hohe See (497 MW) and Albatros (112 MW) offshore wind farms
in the North Sea, off the coast of Germany.
FOR FURTHER INFORMATION
PLEASE CONTACT:
|
Media
Mandy Dinning
Toll Free: (888) 992-0997
Email: media@enbridge.com
|
Investment
Community
Rebecca Morley
Toll Free: (800) 481-2804
Email: investor.relations@enbridge.com
|
Forward Looking Information
Forward-looking information, or forward-looking statements,
have been included in this news release to provide information
about Enbridge Inc. ("Enbridge" or the "Company") and its
subsidiaries and affiliates, including management's assessment of
Enbridge and its subsidiaries' future plans and operations. This
information may not be appropriate for other purposes.
Forward-looking statements are typically identified by words such
as ''anticipate'', ''expect'', ''project'', ''estimate'',
''forecast'', ''plan'', ''intend'', ''target'', ''believe'',
"likely" and similar words suggesting future outcomes or statements
regarding an outlook. Forward-looking information or statements in
this news release include statements with respect to the Normandy
offshore wind farm and Enbridge's participation therein, including
the characteristics and benefits of such wind farm, expected
installed capacity and expected in service dates.
Although Enbridge believes these forward-looking statements
are reasonable based on the information available on the date such
statements are made and processes used to prepare the information,
such statements are not guarantees of future performance and
readers are cautioned against placing undue reliance on
forward-looking statements. By their nature, these statements
involve a variety of assumptions, known and unknown risks and
uncertainties and other factors, which may cause actual results,
levels of activity and achievements to differ materially from those
expressed or implied by such statements. Assumptions regarding the
expected supply of and demand for crude oil, natural gas, natural
gas liquids, liquified natural gas, renewable energy and other
commodities, and the prices of these commodities, are material to
and underlie all forward-looking statements, as they may impact
current and future levels of demand for the Company's services and
other energy-related services and products. Similarly, energy
transition, including the drivers and pace thereof, exchange rates,
inflation and interest rates impact the economies and business
environments in which the Company operates and may impact levels of
demand for the Company's and others' services and products and cost
of inputs, and are therefore inherent in all forward-looking
statements. Due to the interdependencies and correlation of these
macroeconomic factors, the impact of any one assumption on a
forward-looking statement cannot be determined with certainty. The
most relevant assumptions associated with forward-looking
statements on announced projects and projects under construction,
including estimated in-service dates and the realization of
anticipated benefits, include the following: the impact of
litigation and government, regulatory and stakeholder actions and
approvals on construction and in-service schedules; the
availability and price of labour and construction materials; the
stability of the supply chain; the effects of inflation and foreign
exchange rates on labour and material costs; the effects of
interest rates on borrowing costs; technology-related matters; the
impact of weather; and expectations about our partners' ability to
complete and finance proposed projects.
Enbridge's forward-looking statements are subject to risks
and uncertainties, including, but not limited to those risks and
uncertainties discussed in this news release and in the Company's
other filings with Canadian and United
States securities regulators. The impact of any one risk,
uncertainty or factor on a particular forward-looking statement is
not determinable with certainty as these are interdependent and
Enbridge's future course of action depends on management's
assessment of all information available at the relevant time.
Except to the extent required by applicable law, Enbridge assumes
no obligation to publicly update or revise any forward-looking
statements made in this news release or otherwise, whether as a
result of new information, future events or otherwise. All
subsequent forward-looking statements, whether written or oral,
attributable to Enbridge or persons acting on the Company's behalf,
are expressly qualified in their entirety by these cautionary
statements.
About Enbridge Inc.
At Enbridge, we safely connect millions of people to the energy
they rely on every day, fueling quality of life through our North
American natural gas, oil or renewable power networks and our
growing European offshore wind portfolio. We're investing in modern
energy delivery infrastructure to sustain access to secure,
affordable energy and building on two decades of experience in
renewable energy to advance new technologies including wind and
solar power, hydrogen, renewable natural gas and carbon capture and
storage. We're committed to reducing the carbon footprint of the
energy we deliver, and to achieving net zero greenhouse gas
emissions by 2050. Headquartered in Calgary, Alberta,
Enbridge's common shares trade under the symbol ENB on
the Toronto (TSX) and New York (NYSE) stock
exchanges. To learn more, visit us at enbridge.com
About Maple Power
Maple Power Ltd, a 50-50 joint venture between Enbridge Inc. and
Canada Pension Plan Investment Board (CPP Investments), originates,
develops, invests in, and manages fixed bottom and floating
offshore wind projects in Europe.
Established in 2019, Maple Power,
together with its partners and shareholders, manages a portfolio of
3.2 GW (gross) of European offshore wind projects.
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SOURCE Enbridge Inc.