EDF En Canada Inc. and Enbridge Inc. (TSX: ENB) (NYSE: ENB) are buying the Blackspring Ridge Wind Project, located in Alberta, Canada, for $600 million.
When the project is completed it will be the largest wind project in western Canada, according to the companies.
Blackspring will have 166 wind turbines. The project was owned by Greengate Power Corp., which operates wind projects across Alberta, Canada.
The acquisition adds to EDF’s existing 1,000 megawatt portfolio of renewable energy projects in Canada. EDF is a subsidiary of Paris-based EDF Energies Nouvelles, a company that builds and operates renewable power generation projects in Europe and North America.
Enbridge, headquartered in Calgary, provides gas, wind and solar energy.
Other recent deals in the energy sector include Midstates Petroleum’s purchase of properties in the Anadarko Basin for $620 million, Penn Virginia’s acquisition of Eagle Ford properties for $400 million and Ridgemont Equity Partners and Post Oak Energy Capital’s decision to invest $100 million in Titan River Energy LLC.
Though oil and gas deals have been constant, renewable energy deals have been happening at a slower pace. In January, Hanergy Holding Group Ltd. wrapped up a $30 million deal for MiaSolé, a solar panel maker. In November, National Grid announced it was making a $40 million equity investment in Clean Line Energy Partners LLC to help the company develop wind projects.