Enbridge forms joint venture with KKR, Apollo for C$2.7 billion Westcoast pipeline expansions in B.C
ENB•Ownership, project timing and repurchase option
Investors will receive an indirect cumulative 29% interest in the Westcoast system once Sunrise enters service in late 2028.
The Aspen Point expansion is targeted for 2026, and distributions will begin as each project enters service.
Enbridge will keep majority ownership and operational control, and it has an option to repurchase the stake between years seven and 14 after closing.
Joint venture to fund Westcoast pipeline expansions
Enbridge agreed to form a joint venture with KKR, working with Apollo-managed funds, to finance Westcoast pipeline expansions in British Columbia.
KKR and Apollo are set to invest about C$2.7 billion, including C$0.7 billion in cash to Enbridge at closing.
