- KKR-led capital accounts and Apollo-managed funds will finance the Aspen Point and Sunrise expansions of Enbridge's Westcoast natural gas pipeline system.
- Enbridge will receive about C$700 million in cash at closing, and the investors will receive distributions as each expansion enters service.
- Aspen Point is expected online in 2026 and Sunrise is targeted for late 2028; Sunrise would increase system capacity from 3.6 Bcf/d to about 3.9 Bcf/d.
- The expansions have regulatory approval and long-term take-or-pay contracts, limiting exposure to short-term natural-gas price swings.
- The transaction supports Enbridge's capital-recycling strategy and is not expected to materially change its 2026 guidance or medium-term outlook.
Quotes
“Enbridge said the transaction is not expected to have a material effect on its 2026 financial guidance or its medium-term outlook.”