Enbridge acquires interest in UK offshore wind project

Enbridge Inc., through a wholly owned subsidiary, acquired a 24.9 per cent interest in the 400 megawatt Rampion Offshore Wind Project in the United Kingdom. Enbridge’s total investment in the Rampion Project is expected to be $750 million (GBP 370 million) inclusive of all interest during construction, transaction costs and a development fee.

The Rampion Project was developed and is being constructed by E.ON Climate & Renewables UK Limited, a subsidiary of E.ON SE, one of the world’s largest utilities and a leading developer of wind energy projects.

The Rampion Project provides Enbridge with a timely and effective entry point to the European offshore wind business. Enbridge has invested over $4 billion in renewable power generation and transmission in the past decade.

Enbridge was represented internally by Jim Bell, Senior Legal Counsel, and Matthew Hall, Legal Counsel, from its Calgary office. Dentons was Enbridge’s external legal advisor with a team in its London office that included Charles July (energy), Nigel Webber (corporate) and Max Moore (corporate). Bill Jenkins and Stephanie Campbell of Dentons’ Calgary office assisted with certain Canadian law matters.

E.ON was represented internally by Miriam Bardolet Pou, Legal Counsel, E.ON Global, Next Generation (Dusseldorf, Germany). E.ON was also represented by Pinsent Mason LLP with a team that included Kevin Devanny (corporate) and Kevin Beattie (corporate).