[THE INVESTOR] Veolia Water Solutions & Technologies Korea has joined the bidding for Suwan Energy, a heat and power plant operator in Gwangju, South Jeolla Province, according to the industry on Aug. 15.

Veolia Korea, the Korean branch of the leading water services supplier based in France, has turned in a letter of intent to the Seoul Central District Court to take over the community energy provider.




Suwan Energy provides heating and cooling to 40,000 households in Gwangju’s Suwan district, and is being sold to pay off the debt of its parent company Keangnam Enterprises. There are six bidders for the sale, according to industry sources.

Veolia is a water treatment process expert that has presence in over 50 countries across the world. It has also considered acquisitions of Incheon Total Energy Company and Hanjin’s energy trifecta Daeryun E&S, Daeryun Power and Byeollae Energy.

By Hwang You-mee (glamazon@heraldcorp.com)