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E.ON To Sell Ownership In Wildcat Wind Farm

The German-based company E.ON is selling an 80 percent stake in Indiana's Wildcat Wind Farm to Enbridge, a Canadian company that largely focuses on the transportation of crude oil.

E.ON says the $650 million sale, which also includes a stake in a Texas wind farm, is part of its "build and sell" approach.

"The proposed transaction partly monetizes capital expenditure spent and the value created during development and construction while maintaining a minority equity position," a statement from the company reads.

E.ON will retain 20 percent interest in the wind farm, located in Madison and Tipton counties, and will continue to operate the 125-turbine wind farm.

Enbridge officials say the company has invested $3 billion in renewable energy assets in the past five years, and the turbines at Wildcat Wind Farm will increase Enbridge's energy generating capacity to 1,600 megawatts.

"These also further help us meet what we call our neutral footprint commitment," says Enbridge spokesman Larry Springer. "That commitment is to generate a kilowatt hour of renewable energy for every additional kilowatt of energy that is consumed by our liquid pipeline business, such as the crude oil pipeline we have there in Indiana."

Springer says Enbridge is on track to reach that goal by next year.

The sale will likely close in January, pending approval by the Federal Energy Regulatory Commission.

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