News

The Vietnamese government confirms the EDF Group’s position as leader of the consortium in charge of the studies for the building of a 2000-MW combined-cycle power plant at Son My

Publish on 02/04/2018

On 27th March 2018, during an official visit to France by the General Secretary of Vietnam’s Communist Party, Nguyen Phu Trong, the Vietnamese Minister of Industry and Trade, Tran Tuan Anh, confirmed the Vietnamese government’s decision to appoint the EDF Group as leader of the international consortium in charge of a gas-fired plant construction project at Son My in Vietnam.

With an installed capacity of 2000 MW, the Son My 1 project, which uses Combined Cycle Gas Turbine technology, is due to be commissioned by 2023/2024, with a view to meeting the strong and growing demand for electrical power in the south of Vietnam.

The Group (37.5%) is leading the consortium in charge of the project’s studies, together with one Vietnamese partner (Pacific Corporation, 25%) and two Japanese partners (Sojitz 18.75% and Kyushu 18.75%).

EDF is already active in Vietnam via its Mekong Energy Company subsidiary (56.25%). The company operates the Phu My 2.2 facility, which comprises two combined-cycle plants with a total capacity of 715 MW.

Marianne Laigneau, Senior Executive Vice-President in charge of the International Division: "The Vietnamese government’s decision marks a decisive step in the development of plans to build a gas power plant at Son My in Vietnam. It boosts our confidence in the subsequent stages of this project, which is essential to meeting the country’s growing energy needs. The project is fully aligned with Vietnam’s energy transition. Our involvement in this country, which is already significant in the gas-fired power sector, is in line with our CAP 2030 strategy, which seeks to multiply the Group’s international business by three come 2030".

EDF and TATA signed agreement on Smart Grid & mobility

Publish on 08/03/2018



A Memorandum of Understanding (MoU) has been signed between TATA Power Delhi Distribution (TPDDL) and EDF on Feb 27, 2018 in New Delhi. Marianne LAIGNEAU, EDF Group Senior Executive Vice President in charge of the International division, signed this MoU with Praveer SINHA, CEO of TPDDL. The agreement is an intent and willingness of both companies to jointly work on the areas of (i) smart lighting management, (ii) smart poles, electric vehicle charging infrastructure and other innovative smart grid solutions. As next step, teams from both companies will meet to define a possible business model to jointly work on the coming business tenders on Smart grid in India. The discussions would also define the responsibility matrix and scope of each company to respond to the tenders. Some pilot projects could be jointly executed in innovative & smart grid technologies.

2017 annual results. 2017 financial targets achieved. 2018 targets confirmed. Performance plan in advance.

Publish on 07/03/2018

EDF’s Board of Directors meeting on 15 February 2018, under the chairmanship of Jean-Bernard Lévy, approved the consolidated financial statements at 31 December 2017.

Jean-Bernard Lévy, EDF’s Chairman and CEO, stated: “In line with our forecasts, the 2017 results demonstrate EDF’s solidity, once again profitable, in a difficult market context. Continuing the deployment of its CAP 2030 strategy and the successful execution of its performance plan, the Group strengthened its balance sheet and reduced its financial debt by €4.4bn in 2017. We are beginning an unprecedented acceleration in renewable energies with the launch of EDF’s Solar Plan, at the same time that we are strengthening our commercial initiatives. Supported by our staff dedicated to working in the service of the energy transition and by a newly reorganized nuclear industry, EDF now enjoys a solid basis to achieve the rebound expected in 2018.”

The results of the 2017 fiscal year are in line with expectations, despite the decline in nuclear and hydropower output in France and the unfavourable price conditions in almost all geographic areas where the Group is active. Actions undertaken to optimize operations and accelerate cost reductions have helped generate an EBITDA of €13.7 billion, in line with the initial targets.

EBITDA for the France - Generation and supply activities segment amounted to €4,876 million. Restated for the impact of the tariff adjustment, which took place in 2016, EBITDA was down 7.9% in organic terms. This change is mainly due to the decline in nuclear and hydropower output, to the impact of the purchases of the volumes required to cover the ARENH subscriptions in a tense market environment, and, to a lesser extent, to the unfavourable conditions in the downstream market.

EBITDA for France - Regulated activities amounted to €4,898 million. Restated for the impact of the tariff adjustment which took place in 2016, EBITDA was down 3.8% in organic terms. This change is attributable to the downward trend in volumes delivered by Enedis, the impact of storms and hurricanes and the positive factors in 2016 that had no equivalent in 2017.

In the United Kingdom, EBITDA was down 33.3% in organic terms to €1,035 million, mainly due to the significant impact of lower realised nuclear prices.

In Italy, EBITDA recorded an organic increase of 42.1% to €910 million due in particular to favourable trends in electricity sale prices and to the optimisation of the gas-fired generation fleet. The performance of the exploration-production activities for hydrocarbons, in a context of higher Brent oil and gas prices and higher output after a new platform came online, also contributed to this positive development in EBITDA.

EDF Énergies Nouvelles’ performance benefitted from an 11% increase in renewable power output in connection with an increase of 1.6GW in net installed capacities to 7.8 GW. EBITDA stood at €751 million, down 14.8 % in organic terms, due to asset rotation than in 2016. EBITDA of generation rose by 8.5% organically to €741 million.

EBITDA for the Other international segment stood at €457 million, an organic decrease of 17.9%, attributable essentially to the drop in electricity prices and to lower power generation in Belgium. The unfavourable revision from the index of the price of the Power Purchase Agreement in Brazil also contributed to the decrease.

Distributed solar energy : ACC & EDF Energies Nouvelles Announce China Joint‐Venture

Publish on 07/03/2018

February, 14th 2018 _ Asia Clean Capital (“ACC”) and EDF Energies Nouvelles jointly
announce the establishment of a joint venture to build and operate a portfolio of
distributed rooftop solar projects in China.
ACC is widely considered China’s leading multinational rooftop solar developer, and
EDF Energies Nouvelles is the renewable subsidiary of EDF Group, one of the
world's largest electricity companies. The joint‐venture will benefit from ACC’s
local footprint in distributed solar energy and from EDF Energies Nouvelles’
international distributed solar energy and self‐consumption expertise solutions for
industries.


ACC’s business focuses on rooftop solar projects. It invests in the solar projects and
undertakes the design, construction, and long‐term system maintenance. ACC has
invested in and built solar projects in the PRC for many of the world’s leading
corporations, including P&G, Danone, Nestlé, Coca‐Cola, Volkswagen, Unilever,
Fujitsu, and others.

The partnership comes at a time of rapid growth for ACC. It has achieved triple‐digit
growth for three consecutive years and was named “The New Prominent Enterprise
in energy industry in 2017”
by the China Energy Development and Innovation Forum
Committee and “Best Distributed Solar Developer” for 2016 by TÜV NORD, the
world’s leading solar consulting and testing firm.

Thomas Lapham, CEO of Asia Clean Capital, said “We are tremendously excited to
work with EDF Energies Nouvelles, given their unparalleled experience and expertise
in renewable energy worldwide. We will tap our respective advantages and help
more companies generate and use green electricity.”


Operating in China for more than 30 years, EDF works in several segments of the
energy market including nuclear power, renewable energy and energy services.

Bruno Fyot, Chief Operating Officer of EDF Energies Nouvelles added, “As a subsidiary
of the EDF Group, a global leader in low‐carbon energy, EDF Energies Nouvelles is
committed to using its expertise in distributed renewable energy in France and in the
United States, as well as EDF’s historic presence in the Chinese electricity market to
develop and expand this newly formed joint venture with ACC “
.

The EDF Group commissions solar and wind plants in India

Publish on 07/03/2018

Acting through its subsidiary EDF Energies Nouvelles, the EDF Group is continuing to grow its renewable energy business in India with the commissioning of three solar facilities. These facilities have expanded the Group’s renewable energy portfolio in India, which saw the addition of five wind farms in April.

Forging ahead with a growing solar energy portfolio

With a total capacity of 87 MWp, the three new solar plants cover the annual energy requirements of 120 000 Indian households. They have added to the Group’s existing solar capacity in India, which now amounts to 207 MWp.

Two of the three plants are located in the State of Uttarakhand in Northern India. Each has an installed capacity of 36 MWp with a 49% equity share held by EDEN, a subsidiary that was set up in 2016 and that is equally owned by EDF Energies Nouvelles and EREN Renewable Energy. The remaining 51% are respectively owned by local partners Omkar Powertech India Private Limited, Profigate Infra Gasoline and Rays Power Infra.

Located in the State of Madhya Pradesh, the third plant has a capacity of 15 MWp and is owned by EDEN.

The three solar facilities have a 25-year power purchase agreement (PPA) with local transmission system operators: Uttarakhand Power Corporation Ltd (UPCL) with the first two plants and Madhya Pradesh Power Management Company Limited (MPPMCL) with the third.

The EDF Group’s first wind farms in India

The five wind farms consist of 82 turbines with a total installed capacity of 164 MW. Located in the State of Gujarat, one of India’s windiest regions, they generate enough power to meet the annual demand of 460 000 Indian households.

The wind farms were built by SITAC Wind Management and Development, a company specialising in wind power. It is equally owned by EDF Energies Nouvelles and the SITAC Group. Each wind farm has a 25-year power purchase agreement (PPA) with Gujarat Urja Vikas Nigam Ltd. (GUVNL), the region’s distribution utility.

EDF supports the energy transition in India

With these recently commissioned facilities, the EDF Group now operates nearly 371 MW of installed solar and wind capacity in India. The country has significant growth potential when it comes to both of these energy sources and aims to have 100 GWp and 60 GW of installed capacity by year 2022 respectively.

As far as nuclear power is concerned, EDF and India’s Nuclear Power Corp of India Ltd (NPCIL) signed a cooperation agreement in January 2016, relating to the planned construction of 6 EPR reactors at Jaitapur
in Western India. The Group is also involved in the development of smart grids. In September 2016, EDF was chosen to partner the state-run company WAPCOS in designing an infrastructure of 75 000 smart meters for the New Delhi municipality. Acting through its subsidiary Citelum, the Group also maintains and operates public lighting systems in the Indore and Ahmenabad municipalities.

Jean-Bernard Lévy, the EDF Group’s Chairman and Chief Executive, stated: "We are proud of being able to play an active role in India’s energy transition by offering a comprehensive range of energy solutions. The recently commissioned wind and solar plants are aligned with the two key objectives of the Group’s CAP 2030 strategy: achieving 50 GW of renewable energy capacity by year 2030 and growing our business in a rapidly expanding market like India".

EDF has strengthened its position in China with two new energy service contracts.

Publish on 11/01/2018

During the official visit of the President of the French Republic to China, the EDF Chairman and Chief Executive, Jean-Bernard Lévy, signed two major energy service contracts. These agreements demonstrate the strengthening of the EDF Group position on the Chinese market.

The first contract concluded with the municipality of Sanya (700,000 inhabitants in the province of Hainan in the south of the country) covers design, construction and operation for thirty years of the network of chilled water (for air conditioning) and sanitation hot water production stations. The network will supply the touristic area under development, composed of around twenty hotels, shopping centres and a hospital, representing 3.4 million square metres of effective surface area. Based on high performance equipment combined with solar panels and a smart operating system, the network enables CO2 emissions to be reduced by 20% compared to the use of individual systems, i.e. up to 70,000 tonnes of CO2 less per year. It will be jointly operated with the local partner, Changfeng Energy (50%).

EDF has concluded a contract with the town of Lingbao (750,000 inhabitants in the province of Henan in the centre of the country) to build and operate a 35-MW biomass cogeneration plant for 30 years. The facility will supply electricity and heating for around 25,000 homes in the town. The municipality can definitively stop using individual coal-fired boilers right after the commissioning of the planned scheduled for 2019, thus reducing CO2 by 150,000 tonnes per year. The plant will be supplied with tree residues, whose supply constitutes additional income for the region’s farmers.

“With the aim of reducing its energy intensity by 15% by the year 2020, China represents an energy service market with high potential. The two new contracts consolidate the Group position in China and fit in with our strategy CAP 2030, which plans to triple EDF activity abroad in countries with high growth by the year 2030”, stated Jean-Bernard Lévy, the EDF Group Chairman and Chief Executive.
 
EDF operations in China
Operating in China for more than 30 years, the EDF Group works in several segments of the energy market:
  • Nuclear power: within the framework of a joint venture with CGN, the Group has developed 2 EPRs on the site of Taishan. In 2017, hot functional testing was successfully performed on unit 1, to test the equipment at temperature and pressure levels similar to operating conditions. The expected commercial operation of the reactor will commence in 2018. Electromechanical assembly is being continued on unit 2, with start-up planned for 2019. EDF also provides support for the CGN Group with operation of its entire fleet.
  • Renewable energies: in July 2016, EDF Énergies Nouvelles acquired a majority holding (80%) in the company UPC Asia Wind Management (AWM), which develops and builds wind power plants in China. The operation covers four plants in operation (66 MW net), one plant under construction (40 MW net) and an extensive portfolio of projects under development.
  • Energy services: at the end of 2017, the Group was granted extension of its concession in the town of Sanmenxia (province of Henan), where EDF has been operating an optimised district heating network, based on recovery of heat from fossil-fuel power plants, in partnership with the Datang electricity company (35%) since 2016. After extension, the district heating network will supply 2 million square metres of town housing.
  • Fossil-fuel power plants: EDF holds 49% of FZPC (joint venture with a subsidiary of Datang), which built and operates Fuzhou ultra-supercritical coal-fired power plant. This technology ensures better efficiency (~44% for Fuzhou) and limited environmental impact. Unit 1 was commissioned at the end of 2015 and unit 2 was commissioned in April 2016. EDF has holdings in two other companies operating fossil-fuel power plants.

Binding agreements signed with strategic investors for the acquisition of an equity stake in NEW NP

Publish on 12/07/2017

Today EDF1 confirmed the signature of binding agreements with the following companies for the acquisition of an equity stake in NEW NP capital:
  • MITSUBISHI HEAVY INDUSTRIES2 for a stake of 15% and potentially of up to 19.5%, and
  • ASSYSTEM for a 5% stake.
The sale price for 100% of the equity value of NEW NP has been confirmed at 2.5 billion Euros excluding potential earn-out provisions and adjustments and with no transfer of financial debt at the closing date.

These agreements were signed further to:
  • the signature on 15 November 2016 of an agreement between AREVA and EDF, setting out the terms of the sale of an interest of 51% to 75% of NEW NP capital, conferring exclusive control of this company, initially a 100% subsidiary of AREVA NP. NEW NP will combine AREVA’s Group’s activities relating to design and equipments’ manufacturing of nuclear reactors, fuel design and assemblies manufacturing, and services to the nuclear installed base;
  • Discussions with strategic investors having confirmed their interest and submitted bids to acquire an equity stake in NEW NP alongside EDF.
Immunisation mechanisms3, guarantees and closing conditions set out in the share purchase agreement signed with EDF on 16 November 2016 will apply to these minority investors.

EDF and these third-party investors will simultaneously acquire their respective equity stake in NEW NP, aiming for the various transactions to be completed by the end of the second half of 2017.

EDF remains open for other strategic partners to enter into NEW NP’s share capital.


Discussions are also initiated between EDF and AREVA on the conditions for the implementation of the European Commission decision requiring AREVA to fully exit NEW NP at the latest by the end of AREVA restructuring plan, planned in 2019.

Jean-Bernard Lévy, Chairman and Chief Executive Officer of the EDF Group: "The entry of new partners, both leaders in their activities, in the shareholding of NEW NP marks the achievement of a key milestone in the restructuring of the French nuclear industry. This demonstrates the attractiveness of our projects and expertise to the other players of the global nuclear industry. I am delighted with this renewed evidence of confidence in EDF and NEW NP ".


__________
1 With AREVA subject to confirmed approval by its Board of Directors
2 Subject to approval by its Board of Directors
3 Agreements pertaining to the Olkiluoto-3 EPR project and the means required to complete the project, as well as certain agreements pertaining to components that are forged at the Creusot plant, will remain within AREVA NP, within the scope of AREVA SA.

Clarifications on Hinkley Point C project

Publish on 10/07/2017

The review of the costs and timetable of the HPC project, undertaken after EDF's final investment decision in September 2016, in conjunction with the project company (NNB) teams, concluded that:
  • The milestone for the first nuclear safety concrete for the building of Unit 1, scheduled for mid-2019, is confirmed, assuming that the final design, which is on a tight schedule, is completed by the end of 2018.
  • Project completion costs are now estimated at £19.6 billion in 2015 sterling1, an increase of £ 1.5 billion in 2015 sterling, compared to previous evaluations. This estimate includes successful operational action plans, in partnership with suppliers. The estimated additional costs2 result mainly from a better understanding of the design adaptated to the requirements of the British regulators, the volume and sequencing of work on site and the gradual implementation of supplier contracts. EDF's projected rate of return (IRR) is now estimated at about 8.5% compared to about 9% initially.
  • The risk of deferral of delivery (COD) is estimated at 15 months for Unit 1 and 9 months for Unit 2. This risk would entail an additional potential cost of around 0.7 billion in 2015 sterling. Under this assumption, the IRR for EDF would be around 8.2%.
The project company NNB, in compliance with its rules of governance, will study and implement the recommendations of the review.
The management of the project is mobilised on the initial delivery objective for Unit 1 at the end of 2025, and on the identification and implementation of action plans to reduce costs and risks.
The Group maintains its financial targets as described in the 9 May 2017 press release.

EDF strives to double its turnover by 2025 for energy services aimed at businesses and local authorities

Publish on 21/06/2017

EDF has set itself the goal of doubling its turnover for energy services by 2025, then to achieve a turnover of 11 billion Euros by 2030. To establish its position in this field, EDF is launching EDF Solutions Energétiques, a new banner that highlights its expertise and the skills boasted by its subsidiaries, by boosting the profile of each of its brands.


The EDF Group already has solid experience in energy solutions, generating a turnover of 4.4 billion in 2016. Today, EDF’s ambition is to consolidate the development of the activities of the Group and its subsidiaries in countries where it already has a presence, and to launch targeted takeover bids or buy shares in specialist companies.

The EDF Group boasts excellent expertise in the field of energy solutions, thanks to specialist subsidiaries like Dalkia, Tiru, Citelum, Sodetrel, and NetSeenergy. Low carbon heating systems, smart lighting, waste recovery, electric transport: these innovative areas complement each other and respond to the challenges faced by different regions and businesses.

All of these services guarantee energy savings and the establishment of low-carbon solutions. They help businesses boost their competitiveness and tackle the challenges associated with performance. Local authorities appreciate them for their appeal and the way they help reduce their carbon footprint.

The new brand, EDF Solutions Energétiques, supports this ambition. It reinforces the brands of each of the Group’s subsidiaries and reminds people of their ability to support their clients in the challenges raised by energy transition and economic efficiency.

For Henri Lafontaine, the EDF Group’s Senior Executive Vice President for Customers, Services, and Regional Action: “Energy services are a key part of our Cap 2030 strategy. Our goal is to double our turnover by 2025, at least a quarter of which will be generated internationally, and to achieve a turnover of 11 billion Euros by 2030. The new brand, EDF Solutions Energétiques, epitomises EDF’s ambition when it comes to energy solutions as well as the Group’s ability to offer a comprehensive range of competitive products and innovative, customised services to our clients.

Appointments within the EDF Group Executive Committee

Publish on 13/06/2017

Jean-Bernard LÉVY, Chairman and CEO of the EDF Group, has made several appointments to the Executive Committee to take effect as from 17 July 2017.

Simone ROSSI has been appointed as Group Senior Executive Vice President, and will be designated as the Chief Executive Officer of EDF Energy as from 1 November 2017. He was previously the Group Senior Executive Vice President in charge of the International Division.

Marianne LAIGNEAU has been appointed as the Group Senior Executive Vice President in charge of the International Division. She was previously the Group Senior Executive Vice President in charge of Human Resources.

Christophe CARVAL has been appointed as the Group Senior Executive Vice President in charge of Human Resources. He was previously the Human Resources Director of ENEDIS.

Cédric LEWANDOWSKI has been appointed as the Group Senior Executive Vice President in charge of Innovation, Strategy and Planning. He was previously Director of the Minister of Defence Cabinet.

Jean-Bernard Lévy, the Chairman and CEO of EDF stated: “I am delighted to welcome to the Executive Committee Christophe Carval and Cédric Lewandowski, two senior directors who have demonstrated solid strategic and operational skills during their career with the Group. I would like to extend my sincere thanks to Philippe Torrion, who will shortly be retiring, for his flawless commitment and his outstanding contribution throughout his career at EDF.”

The following members of the Executive Committee remain in their current capacity:
- Marc BENAYOUN, Group Executive Vice President with responsibility for Gas and Italy.
- Antoine CAHUZAC, Group Senior Executive Vice President in charge of Renewable Energies. In addition, he is the CEO of EDF Energies Nouvelles.
- Xavier GIRRE, Group Senior Executive Vice President in charge of the Group Finance.
- Véronique LACOUR, Group Senior Executive Vice President in charge of Transformation and Operational Effectiveness.
- Henri LAFONTAINE, Group Senior Executive Vice President in charge of Customers, Services and Regional Action.
- Dominique MINIERE, Group Senior Executive Vice President in charge of Nuclear and Thermal Power
- Until 31 October 2017, Vincent de RIVAZ, Chief Executive Officer of EDF Energy.
- Pierre TODOROV, Group Senior Executive Vice President Group General Secretary
- Xavier URSAT, Group Senior Executive Vice President in charge of New Nuclear Projects and Engineering


Alexandre PERRA, Director in charge of Executive Coordination and Governmental Relations, acting as Executive Committee Secretary.
 
A key player in energy transition, the EDF Group is an integrated electricity company, active in all areas of the business: generation, transmission, distribution, energy supply and trading, energy services. A global leader in low-carbon energies, the Group has developed a diversified generation mix based on nuclear power, hydropower, new renewable energies and thermal energy. The Group is involved in supplying energy and services to approximately 37.1 million customers, of which 26.2 million in France. The Group generated consolidated sales of €71 billion in 2016. EDF is listed on the Paris Stock Exchange.
 

Biographies:


Christophe CARVAL

Born in 1960, Christophe CARVAL graduated as an engineer from the HEI Engineering School of Lille.

He has held management positions in electricity and gas distribution entities on the behalf of EDF and GDF, at the departmental level as Director of the Calvados and Pyrénées Gascogne Centres and then Centre Group Director for the Central Region.

In 2007, he managed the project setting up the Joint Services Division at EDF SA in charge of driving operational performance breakthrough and headed up the Division until 2010.

In 2011, he was appointed as the Transformation Director of ERDF.

In January 2014, he was appointed as the Human Resources Director of Enedis, responsible for management of the organisational, working mode and governance transformation projects for the electricity distributor.
 
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Cédric LEWANDOWSKI

Cédric LEWANDOWSKI born in 1969 is a graduate of the Institute of Political Studies (IEP) in Paris and holds a postgraduate degree (DEA) in geopolitics. He joined EDF in 1998 to take up the function of Director to the Chairman, François Roussely.

In 2004, he was appointed as Director in charge of Transports and Electrical Vehicles and chaired the two companies, SODETREL and E-LEASE.

In 2008, he joined the EDF Customers Division as Local Authorities Director and created the brand EDF Collectivités. He was appointed as Chairman of the TIRU Company.

In 2012, he was appointed as Director of Civil and Military Minister of Defence Cabinet, a post that he held up to May 2017.
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