European energy and utility giant GDF Suez has broadened its international renewable energy portfolio through the acquisition of Econergy International, completing a process started in June by Suez Energy South America.
GDF Suez is to pay £39 million (EUR50 million) for Econergy, which develops renewable energy projects in Latin America as well as North America. As well as adding to its project portfolio, Econergy will add to GDF Suez’s expertise on carbon credits and non-conventional renewables.
Econergy International, which is based in the US and listed on the UK’s AIM market, has a total installed capacity of 266 MW, including small hydro, wind and coalbed methane. It also has a portfolio of around 200 MW of projects in various stages of development.
Most of Econergy’s projects sell their output under long-term sales contracts, says GDF Suez. Its projects are based in Brazil, Costa Rica, Chile, the USA and Mexico.
Econergy also provides consulting services on renewable energy, energy efficiency and carbon footprint management.
