EDF Announces UK Renewables Venture

EDF Energies Nouvelles (EDFEN) and utility company EDF Energy have announced the creation of a joint venture to become a major player in the UK renewables market. The joint venture, called EDF Energy Renewables, is seeking to capitalize on the synergies between the two companies to make the combined entity a major force in the UK renewable energies market, according to EDFEN.

EDF Energy Renewables intends to expand primarily in offshore wind energy as part of the ambitious program recently unveiled by the British government. EDFEN currently has 103 megawatts (MW) net capacity of wind energy projects in service and 51 MW net capacity under construction in the UK.

EDFEN will provide the joint venture with development expertise, as well as a part of its project portfolio and will enable it to benefit from the terms of the framework turbine procurement agreements it has secured. EDF Energy will contribute a part of its project portfolio and will buy, through Power Purchase Agreements (PPAs), all the electricity produced by assets developed by the joint venture.

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