According to Enbridge Inc., it has entered into an agreement with Renewable Energy Systems Americas to develop the 250-megawatt Cedar Point Wind Energy Project. Enbridge expects to invest about $500 million in the project.
"The investment in Cedar Point bolsters our already strong portfolio of green energy projects and establishes a beachhead for future investment into the growing U.S. green energy market. We expect to continue to grow our renewable portfolio, particularly in states like Colorado that support green energy development," said Enbridge executive Al Monaco.
Monaco also noted that this project is expected to begin its first full year of operation in 2012.
The power generated from the project will be sold to the Public Service Company of Colorado under a 20-year fixed price power purchase agreement.