Enbridge Inc. Q3 2009 Earnings Call Transcript

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2009-11-04 08:58:06.0

Tags: Acquisition, Call Transcript, Earnings, Enbridge Inc., Mergers & Acquisitions, Corporate Law, Investment, Finance, Business Operations, Seeking Alpha

Question-and-Answer Session

Operator

Yes, sorry. (Operator instructions). Our first question comes from the line of Carl Kirst with BMO Capital. Please proceed.

Carl Kirst – BMO Capital

Hi. Good morning, everybody, and nice results. Pat just a quick question on the renewable side. I know in the past – the recent past, you have been talking about your folks are bringing a lot of opportunities to you. And just trying to get a sense – are these other additional Sarnia type projects or is this for instance more a foundation projects that you have that are looking at expanding? And then most notably here, the Sarnia coming into service at the end of this year, at what point do we think this project could potentially be expanded, is that something that would be evaluated sooner rather than later or is that something that where you have to let it operate for a year and then perhaps in 2011 you think about expanding it?

Pat Daniel

Well to come back to you – and first of all, Carl thanks for the comment on the quarter, we appreciate that, and it’s been a great quarter and a great year. With regard to your general question, it’s a combination of potential expansions of existing facilities and potential acquisitions of new renewable facilities. And we do hope to continue to expand both the solar and the wind business.

I think the key thing is that whatever we do, it will be very much along the line of a very similar business model to what you are seeing in Sarnia. So we do have good organic growth expansion opportunities within existing facilities, but some acquisition opportunities as well.

Carl Kirst – BMO Capital

And then with respect to the potential timing of the Sarnia expansion, is that something where you have to let it operate for a good amount of time to get comfortable with it or is it something that you think you could do in a cooking cutter fashion fairly – it’s fairly soon?

Pat Daniel

I would say more of the latter. We feel very pretty comfortable with the operation, not that it’s in operation, but with the relatively straightforward nature of the operation in the solar business, so we wouldn’t necessarily have to have that up and going for the long period of time before we stepped out and did another one like it.

 

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