EDF is ramping up its efforts to develop electricity storage solutions with a goal to develop 10 GW of additional storage around the world by 2035, on top of the 5 GW already operated by the Group. This acceleration represents an investment of almost $10 billion (€8 billion) during the 2018-2035 period.
EDF is also increasing its research and development. Investment in research into storage for the power system will double, reaching €70 million for the 2018-2020 period. Alongside this, EDF Nouveaux Business will be allocating €15 million in the next two years – a third of its investments – to projects and start-ups linked to electricity storage and flexibility.
“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,” said Jean-Bernard Lévy, EDF’s CEO and chairman. “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.”
Filed Under: Energy storage, News