Geothermal a plus for Enbridge

Article Excerpt

ENBRIDGE INC. $42.55 (Toronto symbol ENB; Shares outstanding: 825.7 million; Market cap: $35.0 billion; TSINetwork Rating: Above Average; Yield: 3.0%) invested $23.8 million in 2010 for a 20% interest in the 35-megawatt Neal Hot Springs facility in Oregon, which was then under construction. U.S. Geothermal (New York symbol HTM) owns the other 80%. The plant, which taps into heat from below the earth’s crust, has now started up. The renewable energy facility is a small one for pipeline operator Enbridge, which also owns 12 wind farms and four solar plants. But these should help deflect criticism from environmentalists opposed to some of its pipelines, as well as let it steadily diversify into power generation. Enbridge is a buy. buy…

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