GDF buys wind power company and creates green arm
PARIS (Reuters) - Gaz de France said on Tuesday it had acquired wind power firm Nass and Wind Technologies for an undisclosed amount and that it had created a subsidiary for its green energy assets.
Nass & Wind Technologies, which in western France, operates an installed capacity of 34 megawatts (MW) in the country.
"Nass and Wind Technologies, a subsidiary of the Nass and Wind Group, is an electricity producer that develops wind farms on its own behalf and for third parties in France," Gaz de France said in a statement.
As a result of its recent acquisitions, GDF had created a renewable energy subsidiary named GDF Futures Energies that will develop, build and manage the company's portfolio in green electricity generation, the company said.
Gaz de France is due to merge with French utility Suez before the end of the first half of 2008.
Nass & Wind Technologies had received permits for an additional 150 MW and owns a pipeline of projects totaling around 1,500 MW, GDF said.
"Gaz de France already owns the largest wind farm assets in France, with installed capacity of almost 145 MW at the beginning of 2008," it added.
(Reporting by Muriel Boselli)