Compelo Energy - Latest industry news and analysis is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

EDF launches new solar investment drive

EDF has unveiled plans to invest around €25 billion in solar energy in a big push into solar energy in France.

EDF has unveiled plans to invest around €25 billion in solar energy in a big push into solar energy in France.

The French energy giant says that over the period of 2020 to 2035, it will develop and build solar plants in France with a total capacity of 30 GW. The plan will help France to meet its goals of expanding renewable energy capacity and reduce the share of nuclear in the power generation mix.

EDF said in a statement that it plans to “leverage all its resources” in order to achieve its ambition, including using land from its portfolio of land assets at existing nuclear energy sites and developing floating solar power plants on hydroelectric sites.

Jean-Bernard Lévy, EDF Chairman and Chief Executive, said: “The Solar Power Plan is of an unparalleled scale and marks a real turning point in EDF’s development of solar power capacity. It is a concrete illustration of the goals outlined in the Group’s CAP 2030 strategy, which was initiated in 2015 and aim to double the Group’s installed renewable energy capacity by 2030.

“EDF now has a new roadmap in renewables for the next fifteen years.”

There is currently around 7.4 GW of installed solar capacity in France. EDF’s solar energy portfolio in France amounts to around 200 MW.

EDF will build on average 2 GW of solar capacity per year for 15 years, starting with 1.5 GW per year in 2020-2025, then 2 GW/year in 2026-30 and 2.5 GW/year in 2031-35.