OREANDA-NEWS. GDF SUEZ announced today the purchase of Ecova, an indirect subsidiary of Avista Corp. Ecova is a provider of technology-enabled energy and sustainability management solutions to commercial, industrial and utility clients in North America.

This acquisition is in line with the Group strategy to develop, through its primary brand Cofely, its European leading position in energy services on an international scale. This acquisition enables GDF SUEZ to enlarge its capabilities in the growing field of data management to improve energy supply and resource consumption.

Ecova helps its clients to manage and navigate the complexities of energy and resource management to reduce cost and consumption. It offers comprehensive solutions for utility expense and data management, energy supply, facility optimization and energy efficiency through a unique smart data management platform. The company serves more than 700,000 clients sites and employs more than 1,450 individuals based in 18 offices across North America. Ecova manages USD 20 billion of utility expenses (energy representing the majority) and generated USD 180 million of revenues in 2013. The acquisition represents USD 335 million.

GDF SUEZ and Ecova have a shared vision of how companies can address the challenges of energy and sustainability management. Ecova will continue to invest in its existing and new solutions delivering significant value to its clients in North America as well as throughout the world thanks to GDF SUEZ's global footprint. Through this acquisition, GDF SUEZ will be able to seize opportunities on this growing energy services market.

Commenting on the acquisition, Jerome Tolot, GDF SUEZ Executive Vice President in charge of Energy Services, said: “This acquisition is a major step for the Group in energy efficiency. It will reinforce our expertise in energy data management and combined with our multi-technical know-how in energy efficiency. We will be able to offer innovative and concrete services to assist our clients with the transition to a low carbon economy. In this context, we are pleased to welcome Ecova, its employees and its customers to the GDF SUEZ family of businesses.”

Completion is expected by July 1, 2014, following customary closing conditions and regulatory approvals.

GDF SUEZ, a strong presence in North America

Through its retail electricity business, GDF SUEZ already offers energy efficiency solutions in the North American market. GDF SUEZ offers customized demand response, renewable solutions and energy efficiency services to commercial and industrial customers allowing them to optimize their load requirements and energy-related costs.

More widely, GDF SUEZ manages a range of energy businesses in the United States, Mexico, and Canada, including electricity generation and cogeneration, natural gas and liquefied natural gas (LNG) distribution and sales, and retail energy sales and related services to commercial and industrial customers.

GDF SUEZ Energy North America owns and/or operates cogeneration, steam, and chilled water facilities, including those in construction, representing a capacity of approximately 13,000 MW of electricity generation, 3.5 million pounds per hour of steam, and 37,000 tons per hour of chilled water. Renewable fuels-wind, hydro, biomass, and solar-power 32 of the facilities in the portfolio. The company's natural gas assets include an LNG receiving terminal just north of Boston, Massachusetts, and natural gas distribution networks and pipelines in Mexico that serve more than 400,000 customers.