The Electricity of France or EDF is looking to invest a whopping 8 billion euros. They hope to lead the European electric market after their plan. The EDF is looking to invest billions of euros to expand and upgrade their electricity storage.
The company noted that they are looking to spend the whole investment in the span of 2018 to 2035. They mentioned that the whole plan is to develop a whopping 10 gigawatts more of additional storage capacity.
Currently, EDF operates an impressive 5 gigawatts of electric storage. They strive on spearheading such development, tightening their grip as the market leader.
EDF is boasting massive operations from pumped storage hydropower plants to industrial—sized power storage batteries. These massive facilities are looking to grow further as they continue to step on global market domination.
The company also said in a statement that they are looking to add new clients to their investment plan. They are looking to add a total of 1.2 million off-grid clients in Africa by the end of their plan. The company is looking to accomplish such through their local partners and expansions.
EDF is looking to expand and upgrade its off-grid solar plus storage systems in Africa. This is also part of their expansion plans by the year 2035.
EDF’s Additional Plans and Investments
Additional information about their plans includes a new budget for their research and development. According to the company, they are looking to allocate a total of 70 million euros from 2018 to 2020 in hopes to enhance their results.
On the other hand, the actual plans are expected to be unveiled by the end of 2018. This also includes their actions on curbing their current nuclear plants. Currently, they have a total of 58 nuclear plants which powers a whopping 70% of their current energy.
In an interview last year, the company noted that the trimming of nuclear plants will lead to power shortages. The nuclear cuts are also looking to produce more carbon emission in the process. They announced a whopping 50% cut in nuclear energy by the year 2025.
Furthermore, news and rumors are pointing that the company is looking to shift its focus to renewable energy. On the separate news, a similar plan involving a whopping 25 billion euro investment plans. This plan focuses on solar powers.
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