Areva Acquires PN Rotor

Areva, a nuclear energy company based in France, just entered into a contract to purchase PN Rotor, an offshore wind turbine manufacturer based in Germany. The monetary amount remains unreleased by the Prokon Nord Energiesysteme who sold the company to Areva.

Areva purchased the company with the aim to expand their market industry into the offshore wind energy sector. 

“We believe that the wind energy sector is going to be one of tha biggest among all renewables,” said a spokesman for Areva. “We’ve estimated that achieving the EU target of generating 20% of energy from renewables by 2020 will require around 85 billion euros ($121 billion) a year and we want to play an active role in it,” he added.

Areva had previously been focusing on offshore wind and was hoping to expand their hold on the wind energy market.  

“Our goal is to become one of the biggest offshore wind technology providers and we’re clearly trying to position ourselves better on the manufacturing side of the business,” the spokesman continued.

The companies have no intention of releasing the details of the sale including price. PN Rotor was affiliated with Areva as their supplier in an agreement with Multibrid making the acquiring of the company important to Areva’s venture into offshore wind energy. The company plans to make offshore wind and biomass their main sectors in the future, and hope to expand to $1.4 billion investments in renewable energies by 2012.

The acquisition details will remain confidential, and it is expected to close officially in the course of the next couple of months.

Thanks to cleanedge.com for the above quotes, for more information on this story please visit their website.