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Areva, a French government-owned company better known for its prominence in the nuclear power industry, has jumped into the solar energy business with the acquisition of U.S.-based Ausra, a large-scale concentrated solar thermal power company. Areva says its strategic objective to be the world leader in concentrated solar power and will further strengthen and diversify its renewables portfolio, which includes biomass and other assets.
The move will combine Ausra’s technology and the parent company's engineering, procurement, and construction, according to Areva, with a goal of building the most cost-effective CSP plants for utilities, independent power producers, and industrial customers around the world.
Ausra designs, develops, manufactures, and installs solar steam generators that utilize the company's compact linear fresnel reflector technology.
The French conglomerate will bring on Ausra's chairman/CEO Robert Fishman to lead its global solar business unit, which will be operated out of the solar firm’s Mountain View, CA, headquarters.
This acquisition is expected to close in the next few months, subject to customary regulatory approval, the companies say.
Financial terms of the deal were not disclosed.
