By a staff reporter
French power engineering company, AREVA, has revealed in its financial results that revenue from its renewable energy group was down 24.7% on 2012 on a like for like basis.
One of the reasons given for the poor result was that solar revenue fell 14.6% in 2013 (or -7.5% on like for like basis) due to “difficulties encountered at the Kogan Creek project in Australia”. Although there was an increased revenue contribution from their Indian solar thermal project being led by Indian conglomerate Reliance.
The Kogan Creek project involves use of mirrors to pre-heat water fed into an already operating coal fired power station, thereby displacing the use of coal. The company does not provide details as to the nature of the difficulties the project is encountering.