Enbridge signs deal with KKR and Apollo to fund Westcoast pipeline expansion
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CALGARY – Enbridge Inc. has signed a deal with KKR and Apollo to form a joint venture to help fund the expansion of its Westcoast natural gas pipeline system.
Under the agreement, KKR and Apollo will invest about $2.7 billion to fund the Aspen Point and Sunrise expansions programs, including $700 million to be paid in cash to Enbridge at closing.
In return, they will receive 29 per cent interest in the aggregate Westcoast system once the Sunrise expansion enters service.
Enbridge says the investors will begin receiving distributions as each expansion project enters service, with the Aspen Point expansion set to enter service this year, followed by Sunrise in late 2028.
Enbridge will retain majority ownership and operational control over the Westcoast system, including responsibility for the expansion projects.
It will also have the option to repurchase the investors’ interest in the joint venture at any time between the seventh and 14th year following close.
This report by The Canadian Press was first published Aug. 27, 2026.
Companies in this story: (TSX:ENB)