Press release from Marketwire
Enbridge Income Fund Completes Acquisition of Renewable Energy Assets
Increases interests in renewable generating capacity to 405 megawatts
Friday, October 21, 2011
CALGARY, ALBERTA--(Marketwire - Oct. 21, 2011) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRE SERVICES
Enbridge Income Fund Holdings Inc. (the "Company") (TSX:ENF) and Enbridge Income Fund ("the Fund") announced the closing today of the acquisition by the Fund of a portfolio of renewable energy assets. The Fund acquired 100% interests in the 190-megawatt (MW) Enbridge Ontario Wind Project, the 99-MW Talbot Wind Project and the 80-MW Sarnia Solar Project, which is the largest operating photovoltaic solar facility in the world, for $1.23 billion from indirect wholly-owned subsidiaries of Enbridge Inc. (TSX, NYSE: ENB).
Immediately prior to closing of the acquisition, subscription receipts ("Subscription Receipts") issued by the Company were exchanged on a one-for-one basis for 11,707,000 common shares of the Company ("Common Shares") and the Company completed a private placement to Enbridge Inc. of an aggregate of 2,909,000 Common Shares. The Common Shares issued in respect of the Subscription Receipts and Private Placement were listed and posted for trading on the Toronto Stock Exchange on October 21, 2011 and the Subscription Receipts will be delisted.
About Enbridge Income Fund Holdings Inc.
Enbridge Income Fund Holdings Inc. (the "Company") is a publicly traded corporation. The Company, through its investment in Enbridge Income Fund (the "Fund"), holds high quality, low risk energy infrastructure assets. The Fund's assets include a 50% interest in the Canadian segment of the Alliance Pipeline, a 100% interest in the various pipelines comprising the Saskatchewan System, and interests in more than 400 megawatts of renewable and alternative power generation capacity through a portfolio that includes the 80-MW Sarnia Solar Energy Project, four wind projects in Ontario, Alberta and Saskatchewan and a 50% interest in the NRGreen Limited Partnership. Information about Enbridge Income Fund Holdings Inc. is available on the Company's website at www.enbridgeincomefund.com.
Certain information provided in this news release constitute forward-looking statements. Forward looking statements are typically identified by words such as "contemplate", "anticipate", "expect", "project", "estimate", "forecast" and similar words suggesting future outcomes or statements regarding an outlook. Although the Company believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements and assumptions 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. While the Company 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, including with respect to expected earnings and associated per share amounts, or estimated future dividends, may vary significantly from those expected. Readers are cautioned against placing undue reliance on forward-looking statements. Except as may be required by applicable securities laws, the Company 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Jennifer Varey Enbridge Income Fund Holdings Inc. Media (888) 992-0997 / (403) 508-6563 email@example.com
Teri Majer Enbridge Income Fund Holdings Inc. Investment Community (403) 508-3185 firstname.lastname@example.org www.enbridgeincomefund.com