Enbridge has struck a deal with Canada Pension Plan Investment Board to sell 49 percent of its 50 percent share (leaving it with a 25.5 percent interest) in the 480-megawatt Saint-Nazaire offshore wind project in France.
Under the deal, Enbridge will also sell 49 percent of its 50 percent share in French offshore wind developer Eolien Maritime France (EMF), which holds interests in the Fecamp and Courselles French offshore wind projects, according to Renewsbiz.
Following the transaction’s close Enbridge will own, through EMF, a 25.5 percent stake in Saint Nazaire, a 17.9 percent stake in Fecamp and a 21.7 percent stake in Courseulles.
The transaction is expected to fetch C$100 million ($71 million).
