Enbridge, a leading energy infrastructure company, has taken a significant step towards expanding its renewable energy portfolio by signing an agreement to participate in the construction and operation of the Fox Squirrel solar project. Through a 50% joint venture interest with EDF Renewables, Enbridge aims to bolster its presence in the growing solar energy sector.

Nestled in Madison County, Ohio, the Fox Squirrel solar facility is currently under construction as a ground-mounted solar installation. Enbridge anticipates the initial phase to generate approximately 150 MW of solar energy, which will be ready for service by the end of this year. As an ambitious long-term endeavor, the project is designed to be completed in three phases, aiming to reach an impressive capacity of up to 577 MW by the end of 2024.

To kickstart the first phase, Enbridge plans to invest $149 million and will subsequently evaluate the progress and outcomes to make informed decisions for the following stages. Notably, the project has secured 20-year fixed-price power purchase agreements with a trusted investment-grade counterparty, ensuring steady revenue streams for the entire generation capacity.

Enbridge’s decision to venture into the Fox Squirrel solar project underscores the company’s commitment to clean and renewable energy sources. By diversifying its energy portfolio and actively participating in sustainable projects like this, Enbridge takes a step closer towards realizing its vision of a greener future.

Enbridge’s partnership with EDF Renewables on the Fox Squirrel solar project marks a significant milestone in the renewable energy landscape. With its extensive investment and strategic focus, Enbridge aims to contribute not only to the generation of green energy but also to the innumerable benefits it will bring to the local community and the environment.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The energy market is highly volatile, and readers should conduct thorough research before making any investment decisions.