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Oct. 27, 2008 / 12:10 PM

GDF Suez acquires Econergy

PARIS, Oct. 27 (UPI) -- France's GDF Suez announced it has acquired U.S. firm Econergy.

The deal is worth about $62.2 million.

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Econergy focuses on developing renewable energy projects in Latin America and is also engaged in carbon trading.

The company holds 266 megawatts of small hydro, wind and coal-bed methane projects and has another 200 megawatts in development in Brazil, Bolivia, Costa Rica, Chile and Mexico.

GDF Suez wanted Econergy and its assets in order to expand its international profile, said Dirk Beeuwsaert, chief executive officer of GDF Suez.

Beeuwsaert also said Econergy will help GDF Suez with regard to its carbon market management and understanding.

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