Areva grabs Brazilian biomass co.

Areva, the French state-controlled nuclear power company, said today it acquired a 70 percent stake in Brazilian biomass group Koblitz.

Areva said the management of Koblitz, a provider of integrated solutions for power generation and co-generation from renewable sources, would maintain a 30 percent stake in Koblitz.

Financial terms of the deal were not disclosed.

"This acquisition is a significant step for our biomass activities," said Bertrand Durrande, exec. VP of Areva's Renewable Energies business unit.

"After the 2007 acquisition of Multibrid, it confirms the will of the group to build up a renewable industrial division."

In September, Areva grabbed a 51 percent stake in Germany's Multibrid, a designer and manufacturer of multi-megawatt offshore wind turbines.

Koblitz, founded in 1975, has more than 500 employees with branches in Sao Paulo and Sao José do Rio Preto, the largest sugarcane growing areas of the country, according to Areva.

The core business of Koblitz is the supply of turnkey services for the construction of biomass and small hydro-electric power plants.

Since 1996, Areva said Koblitz has participated in 76 biomass projects, including 58 using sugarcane bagasse.

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