Tri Global Energy, a Leading U.S. Renewable Energy Developer, Acquired by Enbridge
Tri Global Energy (TGE), a top renewable energy developer in the U.S., has been acquired by Enbridge (TSX: ENB, NYSE: ENB), Canada’s largest energy company. For Q2 2022, TGE ranked 10th nationally for renewable energy development, 3rd for onshore wind, and 1st in Texas. Established in 2009, TGE has developed 8.7 GW across 37 projects in seven states, including Texas, Illinois, and Indiana. This acquisition is seen as a strategic move to enhance growth in the transition to a low-carbon economy.
- Acquisition by Enbridge enhances TGE's growth potential in renewable energy.
- TGE is ranked 10th in the U.S. for renewable energy development.
- Strong track record with 8.7 GW of power developed from 37 projects.
- None.
DALLAS, Sept. 30, 2022 /PRNewswire/ -- Tri Global Energy (TGE), one of America's leading developers of renewable energy, (www.triglobalenergy.com), has completed its acquisition by Enbridge (www.enbridge.com) (TSX: ENB) (NYSE: ENB), Canada's largest energy company.
For the second quarter of 2022, the American Clean Power Association (ACP) ranked Tri Global Energy as number 10 in the U.S. for overall renewable energy development (onshore and offshore wind, solar, and battery storage projects), number three for onshore wind development nationally, and number one for onshore wind development in Texas, one of the world's largest producers of wind energy. ACP includes projects both under construction and in advanced development.
Since its founding in 2009, Tri Global Energy has developed 8.7 GW of power from 37 total projects in seven states - Texas, Illinois, Indiana, Nebraska, Pennsylvania, Virginia, and Wyoming. TGE has successfully originated, developed and sold multiple projects to leading renewable equity partners such as NextEra, Copenhagen Infrastructure Partners and Engie. This includes 10 Texas wind projects, which are now in commercial operation.
"When we established Tri Global Energy, we had a vision of creating a better way to develop wind energy projects. This proved to be what the industry needed to help accelerate the transition to renewable energy in the U.S.," said John B. Billingsley, TGE Founder, Chairman and CEO. "Today TGE is a leader in clean energy with a highly talented and experienced team. Our current opportunity with Enbridge allows for continued robust growth to meet the challenge of our lifetime – the transition to a low-carbon economy."
Lazard served as lead financial advisor to Tri Global Energy, and Haynes and Boone served as outside counsel to Tri Global Energy.
Founded in 2009, Triu Global Energy is a leading renewable energy developer drawing on the natural, renewable resources of the wind and the sun to successfully address the growing demand for clean and sustainable energy. Tri Global Energy is among America's top utility-scale renewable energy developers. In fact, for more than a decade, the company has been the largest developer of wind energy projects currently under construction in Texas, the nation's leader in wind capacity. For further information on TGE please visit www.triglobalenergy.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/tri-global-energy-a-leading-us-renewable-energy-developer-acquired-by-enbridge-301637526.html
SOURCE Tri Global Energy
FAQ
What is the significance of Enbridge's acquisition of Tri Global Energy?
What rankings did Tri Global Energy achieve in renewable energy?
How many projects has Tri Global Energy developed?
When was Tri Global Energy founded?
What types of energy projects does Tri Global Energy focus on?
