Areva To Acquire CSP Company Ausra

This acquisition is expected to close in the next few months, subject to customary regulatory approval. Ausra will continue to operate out of its existing Mountain View, California headquarters.

"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," said Dr. Robert Fishman, Ausra's chairman and CEO.

Ausra's Compact Linear Fresnel Reflector (CLFR) solar steam generators are designed for existing fossil-fired plants, new standalone solar and solar/fossil hybrid power plants and for industrial process steam customers. Ausra is the first solar steam boiler manufacturer to be awarded the ASME 'S' Stamp the industry hallmark of acceptance and certification.

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 planning to capture large market share in the emergin sector.

Late last year, Ausra was selected as the solar steam boiler supplier for the proposed 100-megawatt JOAN1 concentrated solar thermal power (CSP) project currently under development in Ma'an, Jordan.

The selection of Ausra is an important step in the development of JOAN1, which will also include a back-up fossil-fuel boiler to guarantee 24-hour dispatchable electric power. The project is expected to enter operation in 2013 and will be the largest CSP project in the world using direct solar steam generation.

The company was also chosen to supply its technology for a solar/coal-fired steam augmentation project for the Queensland government in Australia