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ENERGY

Wind energy trade fair opens in Husum

The world's leading wind energy trade fair opened in the German state of Schleswig-Holstein on Tuesday, with close to 1,000 exhibitors from around 70 countries expected to draw some 30,000 visitors.

Wind energy trade fair opens in Husum
Photo: DPA

The four-day event in Husum, on northern Germany’s windswept North Sea coast, had just 743 firms showing off their wares last time it was held in 2008, and the exhibition space has been increased by 40 percent.

Although the wind energy market’s prospects are seen as healthy in the medium term, participants in Husum said that the number of wind turbines installed is set to fall this year, due largely to a slowdown of the US market.

In host country Germany, meanwhile, renewable energy firms are angry at plans by Chancellor Angela Merkel’s government to postpone the date when Europe’s biggest economy abandons nuclear power.

Merkel wants to extend the lifetime of Germany’s 17 nuclear reactors by an average of 12 years beyond a previously scheduled shutdown of around 2020 as a “bridge” until renewable sources of energy such as wind and solar suffice.

“The government’s plans are torpedoing the development of renewable energy,” said Hermann Albers, head of the German Wind Energy Association (BWE).

Anti-nuclear protesters have vowed further demonstrations in the coming weeks after tens of thousands rallied in Berlin on Saturday, while opposition lawmakers have said they want a referendum on the issue.

AFP/mry

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BUSINESS

France’s EDF hails €10billion profit, despite huge UK nuclear charge

French energy giant EDF has unveiled net profit of €10billion and cut its massive debt by increasing nuclear production after problems forced some plants offline.

France's EDF hails €10billion profit, despite huge UK nuclear charge

EDF hailed an “exceptional” year after its loss of €17.9billion in 2022.

Sales slipped 2.6 percent to €139.7billion , but the group managed to slice debt by €10billion euros to €54.4billion.

EDF said however that it had booked a €12.9 billion depreciation linked to difficulties at its Hinkley Point nuclear plant in Britain.

The charge includes €11.2 billion for Hinkley Point assets and €1.7billion at its British subsidiary, EDF Energy, the group explained.

EDF announced last month a fresh delay and additional costs for the giant project hit by repeated cost overruns.

“The year was marked by many events, in particular by the recovery of production and the company’s mobilisation around production recovery,” CEO Luc Remont told reporters.

EDF put its strong showing down to a strong operational performance, notably a significant increase in nuclear generation in France at a time of historically high prices.

That followed a drop in nuclear output in France in 2022. The group had to deal with stress corrosion problems at some reactors while also facing government orders to limit price rises.

The French reactors last year produced around 320.4 TWh, in the upper range of expectations.

Nuclear production had slid back in 2022 to 279 TWh, its lowest level in three decades, because of the corrosion problems and maintenance changes after
the Covid-19 pandemic.

Hinkley Point C is one of a small number of European Pressurised Reactors (EPRs) worldwide, an EDF-led design that has been plagued by cost overruns
running into billions of euros and years of construction delays.

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