French power utility GDF Suez (GSZ.FR) said Tuesday it has been awarded a $1.7 billion contract to build a power plant and transmission line in Chile, as it seeks to become the largest private power utility in Latin America.
GDF Suez believes Latin America offers it plentiful opportunities because demand for electricity is outpacing already fast economic growth, as large chunks of the population emerge from poverty and gain access to home appliances, said Isabelle Kocher, the company's deputy chief executive.