EDF aims to double the share of its assets outside Europe to 10%

French energy group EDF announced it aims to double the share of its assets outside Europe to at least 10% through its own power projects as the group doesn't plan to acquire other utilities. EDF is already investing about US$2bn/year in renewable projects worldwide; the group has reiterated its target to double its renewable capacity from the current 28 GW to 50 GW by 2030. EDF also plans to grow significantly in energy efficiency services, especially outside France. The company will focus on organic growth after having acquired the energy services firm Dalkia from Veolia.



In addition, EDF has unveiled its ambitions in terms of nuclear power in France: the company estimates that the cap set on nuclear capacity (at its current level of 63.2 GW) would be a floor level, due to the planned increase in electricity consumption related to energy substitutions and the development of electric vehicles. EDF plans to extend the lifetime of its nuclear power plants to 60 years thanks to its comprehensive refurbishment plan ("Grand carénage") and to replace them with 30 to 40 new reactors. EDF and Areva are currently cooperating on the conception of a new EPR reactor, "EPR Nouveau Modèle" or EPR NM, that would also have a capacity of 1,650 MW but would be less expensive than the model, currently under construction in Finland and in Flamaville (France). EDF plans to have its first EPR NM installed by 2028-2030 and 30 to 40 by 2055, when all existing reactors will be shut down. EDF will make its decision around 2020 and will certainly invite partners to develop its projects.