AREVA Exits CSP after net loss in first half 2014

In its half year results published on 1 August 2014, AREVA confirmed that it would be exiting the CSP market.

The linear Fresnel technology developer currently has a number of projects under way, including the 125 MW Reliance CSP project in India which is expected to connect to the grid soon. The project has been subject to a number of delays. AREVA also has a 44 MW project in construction in Kogan Creek, Australia. This project was initially expected to begin commercial operation in 2013 – a deadline which has been pushed to the first half of 2015.

The company has indicated that it is phasing out its solar business in a manner which will allow it to meet existing commitments. Work on the Reliance project continues and discussions are being held with CS Energy on a path forward for Kogan Creek.

According to the company’s website, AREVA has made losses in discontinued renewable activities of €373m. It will be implementing cost reduction objectives aimed at securing €1.2bn by 2016.

The official press release states that the “group continues to restructure its operations in renewable energies by entering into partnerships in promising markets, such as offshore wind and energy storage, and by discontinuing loss-making operations, such as concentrated solar power.”

The full release can be viewed here.

Of the four CSP technologies, Fresnel is the third most prominent with a growing presence in India, South Africa and the Middle East.

Below is a list of current Fresnel projects around the world. Those in which AREVA is involved in are highlighted in yellow. The full project details can be viewed on the CSP Today Global Tracker.

 

Table 1: List of Global Fresnel Projects


Source: CSP Today Global Tracker, 1 August 2014