Company: ENBSF
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000895728-25-000006
Chunk: 168

Company: ENBRIDGE INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 1
Chunk 168
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 onshore business with the sanctioning of Orange Grove Solar in Texas (backed by a PPA with AT&T), Sequoia Solar in Texas (backed by a PPA with AT&T and Toyota), completion of Fox Squirrel Solar Phase 2 and 3 in Ohio (backed by a PPA with Amazon), and the announcement of the Seven Stars Energy Project, our first renewable power indigenous partnership focused on wind energy generation in Saskatchewan. We also continued to progress opportunities in our Offshore Wind business in Europe, including placing the Fécamp project into service, delivering first power to the French grid from the Provence Grand Large floating offshore wind project and more recently, winning an offshore wind farm tender for a project in the Mediterranean Sea off the southern coast of France.

•We continued to make meaningful progress towards our ESG goals. We further strengthened our relationships with Indigenous communities across North America while advancing our reconciliation commitments as a part of our Indigenous Reconciliation Action Plan, meeting 12 of 22 commitments. We are striving to reduce emissions from our operations through multiple pathways, including system modernization, and continued investment in our lower-carbon businesses. 

•We continue to recycle capital at attractive valuations; in 2024, this included completing the sale of our interests in the Alliance Pipeline and Aux Sable facility. We remain focused on disciplined capital allocation, portfolio optimization and diversification, the continued enhancement of our industry leading cash flow profile and financial strength and flexibility. In addition, we continue to prioritize operating cost reductions across our business to increase our competitiveness and profitability. 

11

These achievements are discussed in further detail in Part II. Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Looking ahead, our near-term strategic priorities remain similar to past years. As always, proactively advancing the safety of our assets, protecting the environment, and maintaining system reliability remain our top priorities. We are focused on enhancing the value of our existing assets through further optimization, capitalizing on our extensive infrastructure to meet evolving customer needs, prioritizing in-franchise organic growth and export-driven opportunities, and continuing to develop lower-carbon platforms across all our businesses. 

As an example, we are continuing to pursue opportunities related to electrification in North America, where we can utilize our existing gas transmission and distribution infrastructure to safely deliver gas to new and existing power plants being developed, given surging power demand. We are also pursuing opportunities to build new natural gas infrastructure along our network and within our gas distribution territories, combined with