Areva to Acquire the U.S. Solar Company Ausra
Nuclear vendor Areva is getting into solar.
The French engineering and construction giant has bought Ausra, a California firm providing large-scale concentrating solar power. Its technology uses mirrors to focus the sun's energy on water-filled pipes, which produce steam for turbine generators.
The purchase price for Ausra, which has yet to turn a profit, was not disclosed but was rumored to be about $200 million.
Areva said the purchase expands its global low-carbon portfolio, which includes nuclear, biomass, wind, and hydrogen.
The company said its experience managing large-scale construction will let it build Ausra's technology cost-effectively.
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