Enbridge has signed a definitive agreement to participate in the construction and operation of the Fox Squirrel solar project, through a 50% interest in a joint venture with EDF Renewables.
Fox Squirrel is a ground-mounted solar facility under construction in Madison County, Ohio. The initial phase is expected to generate approximately 150 MW of solar energy and be in service by year-end. The project will be constructed in three phases and is designed to ultimately deliver up to 577 MW of renewable energy to the utility grid by the end of 2024. Enbridge will invest US$149 million in the first phase and plans to reach final investment decision on the following phases throughout 2024, assuming certain conditions are met.
The project has 20-year fixed-price power purchase agreements with a strong investment grade counterparty for the full generation capacity.
(Source: Enbridge)