French state-owned power utility EDF's has published its annual results for 2018. The company's renewable power generation (excluding hydropower) rose by 14% to reach 17.2 TWh. In France, hydropower production jumped by 25.4% to 46.5 TWh, while nuclear power generation rose by 3.7% to 393 TWh, in line with its previously established corporate targets ranging between 393 TWh and 396 TWh. In the United Kingdom, nuclear power generation fell by 7.5% to 59.1 TWh.
The company commissioned 1.6 GW of renewable capacity in 2018, of which 0.9 GW of solar power. Other key projects were brought online in 2018, including in particular the 1,660 MWe Taishan-1 EPR nuclear reactor in Guangdong (China). Several acquisitions also boosted EDF's project pipeline: the purchase of the 450 MW Neart na Gaoithe offshore wind park development in the United Kingdom and the acquisition of rights for projects in New Jersey and New York (US), with an offshore wind potential of 2.5 GW.
Eventually, the company's CO2 emissions have reached their lowest historic level and now stand at 57gCO2/kWh (-30.5%). For the 2019-2020 period, total net investments excluding acquisitions are expected to reach €15bn/year,while divestments will range between €2bn and €3bn. One of the company's key long-term projects is the Electricity Storage Plan, which was launched in March 2018: it targets the installation of 10 GW on top of the 5 GW already operated by the group by 2035, representing a total investment of €8bn.
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