With projected revenues of $425 million in 2007, Thermal North America is present in various regional markets, particularly the northeast US and California. It owns and operates heating networks in Boston, Philadelphia, Baltimore, Atlanta, Kansas City, Trenton, St Louis, Oklahoma City and Tulsa and several cooling networks in Las Vegas and Los Angeles.
The company operates 3,500MW of thermal capacity, 520MW of cooling capacity and 245MW of electrical capacity. In addition to the distribution of heat and cooling, Thermal North America also has power generation and building management services.
Veolia Environment said that the transaction positions it in the world’s largest energy services market at a time when higher energy costs and changes in US environmental regulations are expected to create new opportunities.
Veolia Energy is already present in North America through facilities management and energy services firm Dalkia, which acquired the steam distribution network in Cambridge, Massachusetts in 2005.
