LONDON, April 20 (UPI) -- French energy company GDF Suez secured Tuesday a 30 percent stake in the British market share in the regulated water sector by signing five new contracts.
GDF Suez Energy UK announced it signed five electricity deals with British water companies, which represent about 30 percent of the regulated water sector.
The deals combined total $913 million and represent around 9 trillion kilowatts of contracted business during the next five years.
Marc Hirt, chief executive officer at GDF Suez UK, lauded his company's ability to out compete its rivals in the regional regulated water sector.
"Our success has to be attributed to our high degree of flexibility which allowed us to meet the customer's expectations," he said.
GDF Suez in 2009 led a consortium that secured an option to purchase land in the region on which to build a nuclear power station on the coast of the Irish Sea.
