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GDF Suez and Eletrobras sign energy accord
- 13 years ago (2010-09-07)
- Junior Isles
French power company GDF Suez has formed a partnership with Brazilian electricity firm Eletrobras to jointly develop schemes in energy production in Central and South America and in Africa.
“The agreement provides for joint research, project development, and energy production and transmission ventures in renewable energy and/or other energy sources,” the French group said in a statement.
GDF Suez sees Petrobras as a springboard to reach new and promising markets in Latin America and generate high profits.
“With its very high demand for energy and strong potential for renewable energies, Latin America is a key market for GDF Suez,” it said.
The company said it is investing €30 billion ($38.54 billion) for the 2008-2011 period with the aim of satisfying power needs, securing energy supply and optimising the use of resources in the face of climate change.
GDF Suez had a turnover of €42.3 billion in the first half of 2010, up 3.1 per cent.
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