Enbridge (NYSE:ENB) said Wednesday that France’s first commercial-scale offshore wind farm, which it developed in partnership with EDF Renewables (OTCPK:ECIFF) and the Canada Pension Plan Investment Board, is now fully operational.
The 480 MW Saint-Nazaire wind farm off the coast of the Loire-Atlantique region of France is expected to power the equivalent of 700K people with electricity every year, or 20% of the region’s annual electricity consumption.
After nearly three years of construction, the wind farm first produced electricity in June and proceeded to incrementally connect its 80 wind turbines to the national electricity transmission network.
Enbridge (ENB), which has a 25.5% ownership stake in the Saint-Nazaire project, also is a partner in three other French wind projects currently under construction.
Enbridge (ENB) has substantial growth opportunities, and it continues to provide a dividend of at least 6% that it can comfortably afford, The Value Portfolio writes in an analysis published recently on Seeking Alpha.