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Home > Feature Articles > Alternative Energy Solutions > Solar Energy

Solar Thermal is Industrial Scale Investment in Green Energy

Electricity generation is becoming the defacto renewable energy infrastucture and industrial-scale solar thermal generation is projected to grow rapidly through 2020.

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The U.S. Department of Energy is ramping up research into what´s also called “concentrated solar power,” funding almost 30 projects with the aim of making the technology competitive in the baseload power market by 2020. Bloomberg New Energy Finance forecasts an installed worldwide base growth to as much as 34,000 megawatts by 2020, exceeding even the estimate of Areva, who is putting their money where the sun shines.

And renewable energy company acquisitions are heating up. Areva SA of France predicts the global use of solar-thermal power will grow by about 30-fold this decade, a renewable energy forecast that prompted the world’s largest maker of nuclear reactors to buy the California-based equipment maker, Ausra. Paris-based Areva aims to become a world leader in solar thermal.

This renewable energy acquisitions deal was similar to a number of recent purchases in the renewable energy industry and indicates how traditional energy companies are branching into green power by acquiring competitors and using US renewable energy subsidies for industry and consumers for expansion.

Siemens AG, Europe’s largest engineering company, agreed last year to a $418 million purchase of Beit Shemesh, Israel- based Solel Solar Ltd. Abengoa SA, also an engineering company, is building 13 solar-thermal plants in Spain that will benefit from consumer subsidies for clean energy.

Edited by Carolyn Allen, owner/editor of California Green Solutions
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