), NextEra Energy Canada and Borealis Infrastructure, through a
joint venture (JV), are aiming to develop a new power transmission
line in northern Ontario.
ENBRIDGE EGY PT (EEP): Free Stock Analysis
ENBRIDGE INC (ENB): Free Stock Analysis Report
NEXTERA ENERGY (NEE): Free Stock Analysis
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Calgary-based pipeline and utility giant Enbridge and Borealis
Infrastructure, a unit of the Ontario Municipal Employees
Retirement Service, are looking for regulatory approval to buy
stakes in Upper Canada Transmission, Inc − an affiliate of NextEra
The NextEra subsidiary intends to bid for the building of the
Ontario East-West Transmission Tie through a JV − NextBridge
Infrastructure. The 400-kilometer, 230-kilovolt line is expected to
stretch between Thunder Bay and Wawa, Ontario, and will come on
stream as early as 2017. It will cost around $600 million, as per
an Ontario Power Authority report.
This planned venture will enhance the consistency, allow for the
retirement or conversion of northern coal facilities as well as
boost the potential development of renewables in the region. Upon
selection, the conglomerate seeks to develop, construct, own and
operate the new line under the regulatory supervision of the
Ontario Energy Board.
NextEra Energy Canada is a wholly owned, indirect affiliate of
NextEra Energy Inc.
) − the Juno Beach, Florida-based public utility holding company
engaged in the generation, transmission, distribution, and sale of
The parent company of
Enbridge Energy Partners L.P.
), Enbridge Inc. is a leader in delivering energy. It operates in
Canada and the U.S. and has the world's longest crude oil and
liquids transportation system. Enbridge is involved in natural gas
gathering, transmission and midstream businesses and is also
engaged in power transmission. The company provides distribution
services in Ontario, Quebec, New Brunswick and New York State. As a
generator of energy, the company is expanding its interests in wind
and solar energy, geothermal and hybrid fuel cells.
Enbridge currently retains a Zacks #2 Rank, which is equivalent to
a Buy rating for a period of one to three months.