Enbridge has announced it has acquired Tri Global Energy (TGE), a US renewable project developer, for US$270 million in cash and assumed debt.
Additionally, up to approximately US$50 million in payments could be made contingent on successful execution of TGE's project portfolio. TGE has a development portfolio of wind and solar projects representing more than 7 GW of renewable generation capacity. TGE's development team will remain in place following closing of the transaction.