Areva to buy U.S. solar power company Ausra

Paris, February 8, 2010 — Areva bought U.S.-based Ausra, a provider of large-scale concentrated solar power solutions for electricity generation and industrial steam production.

This acquisition launches Areva’s new global solar energy business. It reflects Areva’s strategic objective to be the world leader in concentrated solar power (CSP) and will further strengthen and diversify its renewables portfolio.

Combining Ausra’s proven technology and Areva’s world leading engineering, procurement and construction skills, the group is committed to building the most cost-effective CSP plants for utilities, independent power producers and industrial customers around the world.

The market for concentrated solar power plants is expected to grow substantially in the next decade with an average annual growth rate of 20 percent and should reach an estimated installed capacity of over 20 GW by 2020.

Areva will leverage and reinforce Ausra’s team to strengthen its Global Solar business unit, led by Dr. Robert E. Fishman. It will be operated out of Ausra’s existing Mountain View, Calif. headquarters.

This acquisition is expected to close in the next few months, subject to customary regulatory approval.

Ausra designs, develops, manufactures and installs solar steam generators for the global power generation and industrial steam customers. The company’s Compact Linear Fresnel Reflector (CLFR) solar steam generators are designed for existing fossil-fired plants, new standalone solar and solar/fossil hybrid plants, and a diverse range of industrial customers.

 

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