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ENERGY

French power giant EDF buys 11 wind farm projects in Britain

French power giant EDF said Thursday that it has acquired 11 wind farm projects in Britain as part of its drive to double renewable energy capacity by 2030.

Published: 13 July 2017 14:31 CEST
French power giant EDF buys 11 wind farm projects in Britain
Photo: AFP

“EDF Energy Renewables, the UK subsidiary of EDF Energies Nouvelles and EDF Energy, has bought 11 wind farm projects” in Scotland with a potential capacity of 600 megawatt, EDF said in a statement.

Financial details were not disclosed.

“The acquisition underlines EDF Group's ambition to double its renewable energy capacity by 2030.”

Three sites with around 100 MW of capacity already had planning consent, one site was in the planning system already and seven other sites were in development, the statement continued.

“The acquisition is a further evidence of EDF's commitment to Scotland and renewable energy in the UK and around the world.”

EDF ER currently has 319 MW in operation in Scotland with more than one gigawatt in development, it said.

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.

Published: 16 February 2024 10:45 CET
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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