Enbridge Inc. agreed Thursday to pay $270 million to buy Tri Global Energy LLC (TGE), a top U.S. wind and solar company with a portfolio that includes 45 generating sites in seven states.

tri-global asset map

The takeover, which includes debt, adds a built-in bonus of up to $50 million if all of TGE’s projects now on the drawing board are completed. 

The Dallas-based firm is currently the third largest onshore wind developer in the United States, with a development portfolio of wind and solar projects representing more than 7 GW of renewable generation capacity.

“TGE will enhance Enbridge’s renewable platform and accelerate our North American growth strategy,” CEO Al Monaco said. “TGE’s significant development pipeline, coupled with our renewable capabilities, and existing self-power...