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Strong in nuclear power, Areva purchases concentrating solar-power company Ausra to expand its renewable energy portfolio.
Discussions are at a "very aggressive level" with global conglomerates, source tells Reuters. Sale would add to a string of recent deals and growing consolidation in the solar-power industry.
The financial crisis is making it hard to build massive solar-power plants in the U.S. desert, with once high-flier Ausra shifting its strategy to make smaller solar plants.
The solar thermal start-up aims to complete a 5-megawatt plant in central California and invest in research and development.
Khosla Ventures and Kleiner Perkins Caufield & Byers reportedly led the Series C round for the maker of solar thermal power systems.
The desert factory is supposed to make enough solar equipment to power the equivalent of nearly half a million homes.
Maker of solar-thermal power plants plans to raise additional venture rounds and project financing this year--and to go public in 2010, executive says.
Betting on utilities moving to concentrated solar power in a big way, start-up Ausra to construct Las Vegas factory.
Ausra wins a portion of PG&E's solar thermal shopping spree.
Aussie solar thermal specialist negotiating with utilities for big solar plants