AREVA becomes sole shareholder of AREVA Koblitz
GROUPE / COMMUNICATION
May 23, 2011
AREVA announces the purchase of the remaining 30% of AREVA Koblitz, now a wholly-owned subsidiary of the group.
In 2008, AREVA acquired 70% of the company, a leading supplier of integrated solutions for power generation and co-generation in Brazil, with an option to buy the remaining stake from its minority shareholders.
In the past 3 years, AREVA has managed to more than double the backlog of AREVA Koblitz to reach around €500 million (over 1,100 million Brazilian reals), despite tough market conditions in the aftermath of the financial crisis.
The successful commercial ramp-up since its integration into the group puts AREVA Koblitz in an ideal position to seize opportunities on the buoyant biomass market in Brazil.
“AREVA will use this opportunity to develop its entire Renewables portfolio, especially solar thermal, on the fast-growing Brazilian energy market”, said Anil Srivastava, CEO of AREVA Renewables.