May 9, 2018 / 12:12 PM / 2 months ago

BRIEF-Enbridge To Sell 49 Percent Of Its Interests In Select Renewable Power Assets For $1.75 Billion

May 9 (Reuters) - Enbridge Inc:

* PRESS RELEASE - ENBRIDGE TO SELL 49 PERCENT OF ITS INTERESTS IN SELECT RENEWABLE POWER ASSETS FOR $1.75 BILLION

* ENBRIDGE TO SELL 49 PERCENT OF ITS INTERESTS IN SELECT RENEWABLE POWER ASSETS FOR $1.75 BILLION

* ENBRIDGE INC - ASSETS BEING CONTRIBUTED BY ENBRIDGE TO JV INCLUDE ALL OF ENBRIDGE’S CANADIAN RENEWABLE POWER ASSETS

* ENBRIDGE INC - ENBRIDGE AND ITS AFFILIATES WILL CONTINUE TO MANAGE, OPERATE AND PROVIDE ADMINISTRATIVE SERVICES FOR RENEWABLE POWER ASSETS

* ENBRIDGE INC - EXPECTS TO RETAIN ITS INTERESTS IN CERTAIN OTHER U.S. RENEWABLE POWER ASSETS, WHICH MAY BE MONETIZED OR SOLD AT A LATER DATE

* ENBRIDGE INC - CO, CPPIB ENTERED INTO DEAL WHEREBY PARTIES WILL FORM A 50-50 JV FOR PURSUIT OF FUTURE EUROPEAN OFFSHORE WIND PROJECTS

* ENBRIDGE - UNDER TERMS , CPPIB WILL FUND ITS 49 PERCENT PRO-RATA SHARE OF REMAINING CONSTRUCTION CAPITAL REQUIRED TO COMPLETE HOHE SEE PROJECTS

* ENBRIDGE INC - ENBRIDGE ANTICIPATES A MINIMAL AMOUNT OF CASH TAXES ARISING FROM SALE OF RENEWABLE ASSETS

* ENBRIDGE INC - DEAL WILL ALSO ELIMINATE $500 MILLION OF EQUITY CAPITAL REQUIREMENT PREVIOUSLY INCLUDED IN FUNDING PLAN

* ENBRIDGE INC - ENBRIDGE AND ITS AFFILIATES WILL CONTINUE TO MANAGE, OPERATE AND PROVIDE ADMINISTRATIVE SERVICES FOR THE RENEWABLE POWER ASSETS Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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