Why does Enbridge have wind projects?

This question was asked anonymously on May 6, 2016

Enbridge’s renewable power business looks, feels and performs like the rest of our businesses: these are energy infrastructure investments with a risk profile that’s consistent with our other businesses, meaning they are low risk, contracted assets with huge growth potential and provide good, steady sources of income for the company and ultimately our investors.

Our role at Enbridge is to ensure we meet society’s need for secure energy supply—while, at the same time, reducing emissions and protecting the environment. We recognize that climate change is a global issue, and as the world transitions to more low-carbon energy sources, we believe that Enbridge is uniquely positioned to succeed and grow—both as North America’s leading distributor of oil and natural gas, and as a major player in the renewable energy business.

We’ve been building our renewable power generation business since 2002, and to date have invested nearly $5 billion in a wide range of energy projects. Today, we’re one of the largest investors in solar and wind power production in Canada, a growing player in the United States with investments in wind, solar and geothermal, and just recently, we entered the UK offshore wind market. We plan to double our renewable generating capacity in the next five years.