Under the terms of the accord, Enbridge will acquire 80% of the two find farms, including 203MW Magic Valley 1 wind farm located near Harligen, Texas, and the 202MW Wildcat 1 wind farm near Elwood, Indiana, while E.ON will retain a 20% interest and remain the operator of the wind farms.
Located in areas with favourable wind regimes, the two wind farms entered service in 2012 and can jointly produce enough clean power for more than 120,000 households.
Enbridge corporate development senior vice-president Vern Yu said: "This strategic investment provides a significant contribution to our growth targets in power generation.
"The transaction extends our renewable platform in the U.S., complementing our existing wind farm presence in Texas and establishing Enbridge in the Indiana renewable market."
Over the past five years, approximately $3bn has been invested by Enbridge in renewable energy assets.
Upon completion of the transaction, subject to regulatory approvals, the two wind farms will provide total net generating capacity of green power projects to more than 1,600MW to Enbridge.
In addition to helping double the company’s existing capacity by 2018, the projects will aid Enbridge meet its Neutral Footprint aim of generating a kilowatt hour of renewable energy for every additional kilowatt of energy consumed by its Liquids Pipelines business by 2015.
