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Enbridge Inc ENB

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Enbridge Announces Calvados Offshore Wind Project; Stock Remains Undervalued

Joe Gemino, CPA Senior Equity Analyst

Analyst Note

| Joe Gemino, CPA |

Wide-moat Enbridge, along with its project partners, announced that it will begin construction on the Calvados offshore wind farm off the coast of northern France. The project is expected to generate 448 megawatts of electricity, using 64 wind turbines. Once completed, the Calvados project is expected to generate enough electricity for approximately 630,000 people, or over 90% of the Calvados French department’s population.

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Company Profile

Business Description

Enbridge is an energy generation, distribution, and transportation company in the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company. Additionally, Enbridge generates renewable and alternative energy with 2,000 megawatts of capacity.

425-1st Street SW, Suite 200, Fifth Avenue Place
Calgary, AB, T2P 3L8, Canada
T +1 403 231-3900
Sector Energy
Industry Oil & Gas Midstream
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2021
Stock Type
Employees 11,200