part two

In October, Enbridge announced a step forward in its green energy strategy with the 20-megawatt Sarnia Solar Project, located in Ontario.

"The Sarnia Solar Project will be a key component of Enbridge's strategy to invest in renewable and alternative energy sources that complement our core operations and provide environmental benefits compared with traditional power generation. At the same time, this project has risk and return characteristics that are fully consistent with Enbridge's low-risk business model, and is very similar to our crude oil pipeline business," said Mr. Daniel. "We plan to continue to develop further renewable energy investments which have similar risk and return characteristics, including potential additional investments in Ontario."

Within sponsored investments, Enbridge Income Fund (EIF) announced a proposed corporate restructuring on November 2, 2009. "Enbridge has advised that it is not considering acquiring the public's interest in EIF. The Company believes the proposed restructuring will preserve value for unitholders and permit EIF to continue to prosper, access additional capital and increase distributions on the strength of its excellent organic growth opportunities", commented Mr. Daniel.

"Looking ahead, we have more than $12 billion of commercially secured projects and have identified another $30 billion of organic growth opportunities. We will remain focused on effective capital management and discipline in evaluating projects so as to continue delivering on our unique investor value proposition of growth and income, supported by a low risk business model."