Enbridge - ENB STOCK NEWS

Yara Clean Ammonia and Enbridge have signed a letter of intent to develop a low-carbon blue ammonia production facility at Enbridge Ingleside Energy Center in Texas. The facility is projected to produce 1.2–1.4 million tons of low-carbon ammonia annually, with 95% of CO2 emissions captured and stored. The investment is estimated between US$2.6 and US$2.9 billion, with operations expected to begin in 2027/2028. This collaboration leverages Yara's ammonia distribution expertise and Enbridge's infrastructure capabilities, enhancing the project's strategic value, particularly for agricultural decarbonization and clean energy sectors.

Enbridge Inc. (NYSE: ENB) announced that the French government has selected its joint venture, Maple Power, and EDF Renewables to develop the Normandy offshore wind farm, set to have an installed capacity of 1 GW. This project aligns with France’s carbon neutrality goals by 2050. The wind farm, located over 32 km off the Normandy coast, is expected to be operational by 2030 and will supply electricity to approximately 1.5 million people. This marks Enbridge's sixth offshore wind project in France, enhancing its position in renewable energy amidst global energy challenges.

Enbridge has contributed $20,000 through its Fueling Futures grants to the Good Samaritan Health Services Foundation for the construction of a new Heart of America Medical Center in Rugby, North Dakota. The current facility, which dates back to the 1940s, faces closure within seven years without a new building. The new 79,000-square-foot medical center will be more efficient, reducing utility costs with a design focused on ease of movement for staff. It will feature 18 swing beds for long-term care and seven for acute care, aimed at better serving the local community's healthcare needs.

Enbridge Inc. (NYSE:ENB) announced the redemption of all outstanding 6.375% Fixed-to-Floating Rate Subordinated Notes Series 2018-B due April 15, 2023. The redemption will occur at 100% of the principal amount plus accrued interest until the Redemption Date, excluding any defaults. Deutsche Bank Trust Company Americas has been appointed as the trustee and paying agent, responsible for notifying registered holders. The company emphasizes that this press release does not constitute an offer to sell or a solicitation to buy the Notes. Forward-looking statements within the release indicate potential future risks and uncertainties.

Enbridge addressed the global energy trilemma at its 2023 investor community conference in Toronto. CEO Greg Ebel highlighted North America's energy resources and the company's extensive asset base, emphasizing Enbridge's position as a leader in energy delivery. Key announcements included the acquisition of the Tres Palacios natural gas storage facility for US$335 million and an investment of US$80 million in renewable natural gas from food waste. Additional plans involve building the Enbridge Houston Oil Terminal with an initial cost of US$240 million and significant investments in gas transmission modernization totaling $2.4 billion.

Enbridge has partnered with Divert Inc. to combat food waste and reduce greenhouse gas emissions by converting wasted food into renewable natural gas (RNG). Announced on March 2, 2023, this collaboration aims to address the staggering 100 million tons of wasted food generated annually in the U.S., which contributes to 10% of global greenhouse gas emissions. Enbridge will acquire a 10% stake in Divert for $80 million, with plans for further investments exceeding $1 billion in wasted-food-to-RNG projects. This partnership aligns with Enbridge's energy transition strategy and is expected to close by March 2023.

Enbridge Inc. (NYSE: ENB) has provided an update on its strategic priorities and financial outlook during its investor conference on March 1, 2023. The company plans to invest over $3 billion annually in natural gas, liquids infrastructure, and renewable energy. Expected average annual growth rates for EBITDA and EPS are projected at 4%-6% through 2025, with similar growth post-2025. Recent investments include $2.4 billion in gas transmission modernization and a $240 million oil terminal in Houston. Enbridge also announced the acquisition of Tres Palacios gas storage assets for $335 million, enhancing its U.S. Gulf Coast strategy.

Divert Inc. has announced a significant $1 billion infrastructure development agreement with Enbridge Inc. to combat food waste and reduce carbon emissions in North America. This transformative project focuses on developing facilities that convert wasted food into renewable natural gas (RNG), aiming to offset nearly 400,000 metric tons of CO2 annually. Additionally, Divert secured $80 million in growth equity from Enbridge and $20 million from Ara Partners. The company's expansion plans include establishing facilities within 100 miles of 80% of the U.S. population and enhancing their retail presence, with nearly 5,400 retail stores involved.

Enbridge supports the Brotherhood for the Fallen, a nonprofit founded in 2010 to assist families of police officers killed in duty. With nine chapters across the U.S., their mission includes attending funerals and providing financial aid. In 2022, Enbridge contributed $1,500 to the Boston chapter, following a $5,000 grant in 2021, aimed at supporting families and funding events that honor fallen officers. The Boston chapter has grown from four to over 1,000 members, highlighting community ties and ongoing support for grieving families through fundraising events.