GDF Suez to buy US power company FirstLight

French energy giant GDF Suez said today that its North American subsidiary has agreed to buy FirstLight Power Enterprises Inc., an operator of hydro- and gas-powered electricity plants in Massachusetts and Connecticut.

GDF Suez declined to say how much it was paying for FirstLight. French newspaper Le Figaro cited unidentified "banking sources" as saying the deal was valued at 1.28 billion euros ($1.87 billion).

The deal will add to GDF Suez's existing liquefied natural gas and gas operations in North America, and its power-generating assets and retail activities in New England and eastern Canada, GDF Suez said.

FirstLight is owned by US private equity firm Energy Capital Partners, based in Short Hills, N.J., and San Diego. The company operates 15 power plants with total capacity of 1,538 megawatts. (AP)