AREVA says the acquisition launches its new global solar energy business, and it reflects AREVA’s strategic objective to “be the world leader in concentrated solar power (CSP) and will further strengthen and diversify its renewables portfolio.”

AREVA did not reveal the value of the solar thermal and CSP acquisition

The market for CSP plants is expected have an annual growth rate of 20% over the next decade, and reach an estimated installed capacity of over 20 GW by 2020.

This acquisition is expected to close in the next few months, subject to customary regulatory approval.