ENB - Enbridge JV to develop France's largest offshore wind farm

2023-03-27 12:54:05 ET

Enbridge ( NYSE: ENB ) said Monday its Maple Power joint venture company with Canada Pension Plan Investment Board was chosen by EDF Renewables ( OTCPK:ECIFF ) to develop France's largest offshore wind farm off the coast of Normandy, with an expected installed capacity of 1 GW.

The planned Normandy wind farm is expected to supply the equivalent of the annual consumption of ~1.5M people, more than half of the electricity needs of the region's population.

The Normandy wind farm will be Enbridge ( ENB ), EDF Renewables ( OTCPK:ECIFF ) and its partners' sixth offshore wind project in France, including the country's first offshore wind farm off the coast of Saint-Nazaire, which went into operation in late 2022.

Enbridge ( ENB ) and EDF Renewables ( OTCPK:ECIFF ) also are pursuing the development of the 600 MW Dunkirk offshore wind farm in France.

Enbridge ( ENB ) has experienced significant growth over the last couple of years, building healthy earnings and cash flows, Jeremy LaKosh writes in an analysis posted recently on Seeking Alpha .

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