AREVA to Acquire the U.S. Solar Company Ausra
February 08, 2010
AREVA taps Ausra’s management team and proven technology to become a world leader in concentrated solar thermal energy
February 8, 2010
AREVA announced today the 100% acquisition of U.S.- based Ausra, a leading 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 (EPC) 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% and should reach an estimated installed capacity of over 20 GW by 2020. With this acquisition, AREVA is poised to capture the leading position of this attractive and growing market.
Anil Srivastava, Business Group Renewable Energies Senior Executive Vice President, said, “Deploying concentrated solar power technology at large-scale market requires a best-in-class technology, a strong balance sheet and the ability to deliver a reliable, cost-effective product. By acquiring Ausra, AREVA has taken a major step forward to achieve its strategic ambition to become the world leader in the CSP market. This will reinforce our ability to deliver costcompetitive renewable solutions worldwide”.
Ausra’s Chairman and CEO Dr. Robert E. Fishman declared, “Today is about making a strong company even stronger. With AREVA, Ausra is joining forces with one of the world’s global energy leaders. Combining AREVA’s financial and commercial strengths, and its energy expertise, with Ausra’s proven technology and experienced management team will help position AREVA for even greater success in the renewable and carbon-free energy industry.”
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.