BUSINESS

Enbridge buys 80 per cent stake in U.S. wind power farms from E.ON

11/28/2014 09:24 EST | Updated 01/28/2015 05:59 EST
CALGARY - Enbridge Inc. (TSX:ENB) says it's acquiring an 80 per cent interest in two wind farms in Texas and Indiana.

The Calgary-based energy company is buying the stake from E.ON, a German power and gas company.

The companies valued the wind farms near Harligen, Texas and Elwood, Ind., at a total of US$650 million.

Both the farms have been operating since 2012, and combined, provide enough power for more than 120,000 homes.

E.ON will continue to operate and own a 20 per cent stake in the farms.