E.ON SELLS MAJORITY IN U.S. WIND FARMS TO ENBRIDGE

E.ON SELLS MAJORITY IN U.S. WIND FARMS TO ENBRIDGE

DE AGREED TO SELL AN 80 PERCENT STAKE IN TWO WIND FARMS IN THE UNITED STATES TO CANADA'S ENBRIDGE ENB.

6 billion debt pile and free up cash for investments into new business areas in a move to escape an overcapacity crisis that has pushed many of its coal and gas-fired plants into losses.
The deal gives the two wind farms - with a combined capacity of 505 megawatt MW - an enterprise value of about 650 million, E.
ON's ongoing strategy to divest stakes in wind farms to infrastructure investors which are keen to snap up such assets due to their stable production and guaranteed returns.

FRANKFURT (Reuters) - German utility E.ON (EONGn.DE) agreed to sell an 80 percent stake in two wind farms in the United States to Canada's Enbridge (ENB.TO), as the group continues to rake in much-needed cash by building...

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Article ID: 3390 Date: 28th November, 2014 Social Shares: 7
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