EDF plans $8bn investment in electricity storage projectStaff Writer | March 28, 2018
French utility EDF is ramping up its efforts to develop electricity storage solutions and become the European leader in this field.
Energy Storage has a critical role
EDF’s goal is to develop 10GW of additional storage around the world by 2035, on top of the 5GW already operated by the Group. This acceleration represents an investment of €8 billion during the 2018-2035 period.
EDF’s ambitions are focused on all electricity storage markets to help ensure the smooth running of a balanced electricity system, for residential customers, businesses and countries.
More specifically, the Group is keen to become the leader in the residential sector in France and Europe with its range of self-consumption services incorporating batteries.
Africa is also a priority market for the Group, whose goal is to develop a portfolio of 1.2 million off-grid customers (without access to electricity) by 2035, through local partnerships.
Faced with the rapid development of storage technology, EDF is also increasing its Research and Development capabilities and its capacity of innovation in this field.
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. ■