Enbridge Inc. acquired Tri Global Energy (TGE), a leading US renewable project developer, in a deal valued at US$270 million. Additionally, up to approximately $50 million will be paid as contingent payments on the successful execution of Tri Global Energy's project portfolio.

TGE is currently the third largest onshore wind developer in the US, with a development portfolio of wind and solar projects representing more than 7 GW of renewable generation capacity.

Tri Global Energy's development team will remain in place following the closing of the transaction.

Eversheds Sutherland acted as Enbridge's external legal counsel, with CIBC as financial advisor.

Haynes and Boone, LLP acted as legal counsel to Tri Global Energy, with Lazard Freres & Co. LLC as financial advisor,