WINNIPEG, MANITOBA--(CCNMatthews - Feb. 21, 2006) - Enbridge Inc. (TSX:ENB) (NYSE:ENB) and Sequoia Energy Inc. announced today they will partner to develop wind energy in Manitoba. The companies will participate in the 1,000 megawatts of wind energy development that the Manitoba Government would like to see built in the next few years. The partnership will enable the companies to combine resources in areas across Manitoba to develop more significant projects, and maximize the community, industrial and economic benefits for all involved.
The Government of Manitoba has indicated its interest in developing the wind power industry in Manitoba, and its objective is to maximize the benefits to Manitoba through the development of up to 1,000 megawatts of wind-generated electricity. In order to further this objective, the government has requested Expressions of Interest from parties developing wind power in the province. Enbridge and Sequoia plan to submit their proposal this week.
Enbridge and Sequoia have developed a series of wind power projects to an advanced permitting stage in Manitoba. Jointly the companies have over 250 land agreements with Manitoba landowners in several geographically dispersed rural municipalities that cover over 140,000 acres of land. Enbridge and Sequoia have installed 19 meteorological towers measuring wind and have advanced several transmission interconnection studies with Manitoba Hydro.
"We're hopeful that the Manitoba government will see the strengths the Enbridge-Sequoia partnership offer and how together we can help Manitoba be a leader in wind and renewable energy in this country," said Sequoia CEO Ron Diduch.
"This 50-50 partnership makes us both stronger in our mutual goal to be the lead developer of wind energy in this province," added Sequoia President Bob
Spensley.
"Wind power projects reflect Enbridge's ongoing commitment to sustainable development and an emerging power generation platform," said Chuck Szmurlo, President of Enbridge Wind Power. "We are excited about expanding our wind power strategy into Manitoba, and believe that working together with Sequoia will increase our probability of success in developing multiple wind power projects across the province."
"Wind energy development complements Enbridge's long-standing role as an important corporate citizen in Manitoba," added Mr. Szmurlo. "Enbridge has operated liquids pipelines in Manitoba for over 50 years and works in several Manitoba communities. We are one of the largest purchasers of electricity in Manitoba, which is used to power our pipelines. We recently contracted with the Ontario government to develop 200 megawatts of wind power in that province, and we also have three wind power investments in Saskatchewan and Alberta."
Sequoia Energy Inc., headquartered in Winnipeg, is a Canadian renewable energy company and Manitoba's leading wind developer. Sequoia initiated the first Manitoba wind farm in St. Leon. It is focused on large-scale wind energy projects in western Canada and the U.S. Midwest. As a pioneer in developing a "community first" approach, Sequoia has been instrumental in demonstrating that wind energy is a safe, reliable, economically sound and environmentally and socially responsible source of energy for North America.
Sequoia's business model is based on the importance of partnerships and collaboration. This extends the reach of Sequoia's modest size and enables the company to move quickly with authority. Sequoia prides itself in acting responsibly and collaboratively with key stakeholders. Its corporate goal is to facilitate a smooth introduction of renewable energy into established energy production and transmission networks, bringing new income and economic opportunity to rural areas.
Enbridge Inc., a Canadian company, is a leader in energy transportation and distribution in North America and internationally. As a transporter of energy, Enbridge operates, in Canada and the United States, the world's longest crude oil and liquids pipeline system. The Company also has international operations, a growing involvement in the natural gas transmission and midstream businesses, and a growing involvement in renewable energy development. As a distributor of energy, Enbridge owns and operates Canada's largest natural gas distribution company, and provides distribution services to 1.8 million customers in Ontario, Quebec, New Brunswick and New York State. Enbridge employs approximately 4,500 people, primarily in Canada, the United States and South America. Enbridge's common shares trade on the Toronto Stock Exchange in Canada and on the New York Stock Exchange in the United States under the symbol ENB.
Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" and similar expressions are intended to identify such forward-looking statements. Although Enbridge believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of risks and uncertainties pertaining to operating performance, regulatory parameters, weather, economic conditions and commodity prices. You can find a discussion of those risks and uncertainties in our Canadian securities filings and American SEC filings. While Enbridge makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Enbridge assumes no obligation to publicly update or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.