CALGARY, Aug. 1, 2018 /CNW/ - Enbridge Income Fund Holdings Inc. (TSX:ENF) (ENF or the Company) announced today that affiliates of Enbridge Income Fund (the "Fund") have completed previously announced agreements to sell a 49 percent interest in its wind and solar renewable power generation assets to the Canada Pension Plan Investment Board (CPPIB) for approximately $1.05 billion in cash.
This transaction is part of a broader agreement through which CPPIB has also acquired a 49 percent interest in select renewable power generation assets and development projects in the United States and Europe owned by affiliates of Enbridge Inc.
The Fund will maintain a 51 percent interest in the Canadian renewable power assets and Enbridge and its affiliates will continue to manage, operate and provide administrative services for the assets.
"We're pleased to have now closed this transaction with CPPIB," commented ENF President Perry Schuldhaus. "The proceeds will provide us with significantly enhanced financial flexibility and will provide further assurance that we achieve our targeted credit metrics by the end of 2018."
ABOUT ENBRIDGE INCOME FUND HOLDINGS INC.
Enbridge Income Fund Holdings Inc. is a publicly traded corporation. The Company, through its investment in Enbridge Income Fund indirectly holds high quality, low-risk energy infrastructure assets. The Fund's assets consist of a portfolio of Canadian liquids transportation and storage businesses, including the Canadian Mainline, the Regional Oil Sands System, the Canadian segment of the Southern Lights Pipeline, Class A units entitling the holder to receive defined cash flows from the US segment of the Southern Lights Pipeline, and a 50 percent interest in the Alliance Pipeline, which transports natural gas from Canada to the U.S., and interests in more than 1,400 MW of renewable and alternative power generation assets. Enbridge Income Fund Holdings Inc. trades on the Toronto Stock Exchange under the symbol ENF; information about the Company is available on the Company's website at www.enbridgeincomefund.com.
SOURCE Enbridge Income Fund Holdings Inc.