GDF SUEZ Energy International, a developer of energy and gas projects, has acquired Econergy International, a US renewable energy company listed in the UK, for £39 million.

GDF SUEZ Energy International, a developer of energy and gas projects, has acquired Econergy International, a US renewable energy company listed in the UK, for £39 million.

Econergy was created in 1994 and has an extensive portfolio of renewable energy projects in Brazil, Bolivia, Costa Rica, Chile, the US and Mexico. In addition to developing sustainable energy projects, the company is also involved in the carbon credit markets and provides consulting services on renewable energy, energy efficiency and carbon footprint management.

GDF submitted a binding offer to buy Econergy on 13 June. Today, the company received valid acceptances in respect of a 97.7 per cent stake in Econergy’s existing issued ordinary share capital.

The CEO of GDF, Dirk Beeuwsaert, commented: “We think Econergy to be a perfect fit and complementary to our international energy portfolio. The company has and is developing a series of interesting renewable assets, such as wind and small hydro, in markets where GDF already has a presence or aspires to take positions.

“Econergy will also contribute to GDF’s know-how on carbon credits and non-conventional renewables. Our proven track record in the development and operation of renewable power plants, will contribute to realizing Econergy’s low-carbon projects.”