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France’s EDF does a policy U-turn – now investing in renewables

renewables-not-nukesflag-franceShifting focus: Owner of world’s largest nuclear fleet looks to renewable energy, Fierce Energy September 24, 2015 By William Pentland EDF, the state-controlled electric utility company based in Paris, France, is pinning its hopes for growth on renewable energy investments, including investments in markets outside of Europe. “By 2030, we want to have a significant presence in three to five countries outside of Europe, notably in solar and wind,” said Jean-Bernard Levy, chief executive officer of Electricite de France SA (EDF), in an interview with the French financial daily newspaper,Les Echos.

EDF owns and operates the world’s largest fleet of nuclear reactors. Currently, 95 percent of the French utility’s generating assets are located in either France, Britain or Italy. Levy said EDF would ramp up investments in renewable energy in these markets.

“Our objective is to double our European and French renewables fleet by 2030 from 28 to more than 50 gigawatts,” Levy said.

This strategy departs markedly from the strategy articulated by Levy’s predecessor, Henri Proglio.

While speaking at the Eurelectric conference in June 2014, Poglio said that the European Union needed to assert greater “control” over the pace of renewable energy growth………http://www.fierceenergy.com/story/shifting-focus-owner-worlds-largest-nuclear-fleet-looks-renewable-energy/2015-09-24

September 25, 2015 - Posted by | business and costs, France

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