Company: ENBSF
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000895728-25-000006
Chunk: 106

Company: ENBRIDGE INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 106
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 not having substantive participating rights or kick-out rights. The power to direct the activities of a majority of these unconsolidated limited partnership VIEs is shared amongst the partners. Each partner has representatives that make up an executive committee that makes significant decisions for the VIE and none of the partners may make significant decisions unilaterally.The carrying amount of these VIEs and our estimated maximum exposure to loss as at December 31, 2024 and 2023 are as follows:CarryingAmount ofMaximumExposure toDecember 31, 2024the VIELoss(millions of Canadian dollars)  Rampion Offshore Wind Limited1387 490 Vector Pipeline2193 314 Woodfibre LNG Limited Partnership31,275 3,153 Whistler Parent JV41,102 1,425 Other3168 501  3,125 5,883 CarryingAmount ofMaximumExposure toDecember 31, 2023the VIELoss(millions of Canadian dollars)  Aux Sable Liquid Products L.P.5105 130 Rampion Offshore Wind Limited1391 452 Vector Pipeline2191 320 Woodfibre LNG Limited Partnership3778 2,854 Fox Squirrel Solar LLC6312 661 Other3132 230 1,909 4,647 1As at December 31, 2024 and 2023, our maximum exposure to loss includes parental guarantees that have been committed in project contracts in which we would be liable for in the event of default by the VIE and the carrying value of an affiliate dividend receivable of $73 million and nil, respectively.2Includes Vector Pipeline Limited Partnership in Canada and Vector Pipeline L.P. in the US. As at December 31, 2024 and 2023, our maximum exposure to loss includes the carrying value of outstanding affiliate loans receivable of $16 million and $24 million, respectively, and our share of the VIE's available credit facility for $105 million.3As at December 31, 2024 and 2023, our maximum exposure to loss includes parental guarantees and funding obligations that have been committed in connection with the projects for which we would be liable in the event of default by the VIE(s).4In May 2024, Enbridge formed a joint venture (the Whistler Parent JV) in which we hold a 19.0% interest. Refer to Note 13 - Long-T