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Areva Acquires Ausra, Looks to Become Leader in Concentrated Solar Power

Areva recently announced the 100% acquisition of 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.

With Ausra's technology, Areva hopes to build the most cost-effective CSP plants for utilities, independent power producers and industrial customers around the world.

According to the company, 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.

Anil Srivastava, Business Group Renewable Energies Senior Executive Vice President, said: "By acquiring Ausra, Areva has taken a major step forward to achieve its strategic ambition in renewables. The Group intends to become the world leader in the CSP market thanks to a reliable, cost-effective product."

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.