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EDF looks to expand renewable power portfolio beyond EU borders

EDF wants to expand into renewable energy beyond Europe while still accelerating its renewable power capacity within the EU.

Chief Executive Jean-Bernard Levy told financial daily Les Echos that just 5 per cent of EDF’s assets were outside Europe, where there is little economic or demographic growth. He said EDF would remain in its key markets of France, Britain and Italy, but wanted to build up its international operations.
Jean-Bernard Levy
“By 2030, we want to have a significant presence in three to five countries outside Europe, notably in solar and wind,” he said, adding “our objective is to double our European and French renewables fleet by 2030 from 28 to more than 50 GW.”

Asked how EDF would go about reducing the share of nuclear energy in power production to 50 per cent by 2025 from about 75 per cent now as required by French law, Levy said this would come from growing demand.

The company expects increased power usage from new applications. Levy said new building regulations would boost electric heating. EDF is also betting on several million electric vehicles by 2030.

“On a 15-year horizon, we see 0.5 to 1 percent demand growth per year,” he said.