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EDF to invest EUR8bn in 10GW energy storage projects by 2035

CTBR Staff Writer Published 28 March 2018

French utility Électricité de France (EDF) has stated that it plans to invest €8bn in 10GW of electricity storage projects across the world by 2035.

The group is already involved in the main storage technologies including batteries and pumped-storage hydroelectricity.

Presently, the company has a portfolio of 5GW in electricity storage and it plans to ramp this up to 10GW by 2035, by making investments during the period between 2018 and 2035.

The company is planning to invest in Research and Development into storage, to strengthen its capabilities and innovation in the field. It plans to double its investment in research to €70m for the 2018-2020 period. 

Over the next two years, EDF Nouveaux Business will also allocate €15m in projects and start-ups linked to electricity storage and flexibility.

EDF’s CEO and chairman Jean-Bernard Lévy said: “Electricity storage technologies have a potential to radically change the energy sector. EDF’s Electricity Storage Plan is based on the expertise coming from all entities within our Group and 25 years of investment in R&D.

“The new limit the Group is setting is a 100% carbon-free power system by 2050. By its scale, the Electricity Storage Plan, like the Solar Plan, confirms EDF’s ability to enable a competitive ecosystem in order to make our carbon-free future a reality.” 

Particularly, it plans to become a major player in the residential sector in France and Europe with its range of self-consumption services incorporating batteries.

EDF said that Africa is also a priority market for the company, whose goal is to develop a portfolio of 1.2 million off-grid customers by 2035.

EDF said in a statement: "In a changing energy landscape, EDF is ramping up its efforts to develop electricity storage solutions and become the European leader in this field. Storage has a critical role to play in the energy transition, alongside energy efficiency, nuclear and renewables."

In December last year, EDF announced plans to develop and build solar plants in France totalling 30GW of installed capacity over the period of 2020 to 2035.

Image: EDF headquarters in Paris. Photo: Courtesy of Tangopaso/Wikipedia.org.