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UGI subsidiary acquires renewable natural gas company GHI Energy

UGI Corp. subsidiary UGI Energy Services LLC acquired Houston-based renewable natural gas company GHI Energy LLC for an undisclosed amount.

GHI Energy markets RNG in California and provides vehicle fleets with renewable natural gas by coordinating supply from a portfolio of sources across the U.S., according to a July 9 news release.

UGI said its acquisition of GHI Energy underpins the existing greenhouse gas emission reduction strategies outlined in its second environmental, social and governance report. UGI in June said its subsidiary UGI Utilities Inc. has set a target to reduce methane emissions by 92% by 2030 and 95% by 2040 compared to 1999 levels.

"The GHI acquisition advances our strategy to position UGI as a leading provider of energy solutions that meet the environmental and social needs of our customers and our communities," John Walsh, UGI president and CEO, said in the release. "We've had very good success with our Bio-LPG product in Europe and we look forward to expanding our portfolio of renewable offerings."

Pennsylvania-based UGI distributes and markets energy products and services. UGI Energy Services engages in energy marketing, midstream facilities and power generation businesses.