Duke Energy has acquired a power station in France, becoming the first US company to gain a foothold there as the country prepares to open more of its 25 billion-euro ($24.4 billion) market to competition.
The Charlotte-based utility bought Cie. Thermique du Rouvray, a cogeneration plant with a capacity of 103 megawatts and which employs 15 people, said Peter Wilt, chief executive officer of Duke's European unit. The price was not disclosed.
It's the second time a non-French company has bought power assets in France, where state-owned Electricite de France holds 90 percent of the market. Owning a plant is a step toward supplying industries and individuals across Europe with electricity.
``Having power assets is a first position to prepare for the future market opening,'' said Benoit Bardon, vice president of marketing for industrial services at Dalkia, France's largest operator of cogeneration plants.