Enbridge Inc. has acquired Tri Global Energy (TGE), a developer of renewable energy projects in the U.S., for $270 million US.
The company announced on Thursday that TGE is the 3rd biggest onshore wind developer in the United States, with a total of seven gigawatts of renewable energy project development portfolio.
Enbridge CEO Al Monaco has said that TGE will improve Enbridge’s renewable platform and speed up its growth strategy in North America.
“TGE’s significant development pipeline, coupled with our renewable capabilities, and existing self-power opportunities, make this a truly synergistic investment that further positions us to grow organically at attractive equity returns,” said Monaco in a statement.
Enbridge has stated that the TGE development team would stay in place, which will ensure that ongoing development operations will not be disrupted.
Original source material for this article taken from here