Paris, December 18, 2023 – Since 2019, EDF Renewables has signed long-term contracts in France for 600 MW for the production of low-carbon electricity from its onshore wind farms and solar power plants.
These direct purchase contracts for electricity from renewable sources (cPPA or Corporate Power Purchase Agreement), with an average duration of around 20 years, guarantee EDF customers the benefit of low-carbon electricity from sites of renewable production precisely identified in France. They also allow them to secure a competitive and stable price over the long term, an important issue in a context of high volatility in the electricity market.
For EDF Renewables, these contracts provide long-term visibility on the revenues of the identified production sites, which makes it possible to plan additional investments in renewable energy production means, as an alternative to contracts for difference regularly entered into with the State.
They also demonstrate the maturity of the renewable energy market in France, the competitiveness of wind and solar power compared to anticipated market prices and the interest of customers for these new energies, which contribute with nuclear power to reducing the carbon footprint of the European electricity system.
With the signing of its first contracts in France in 2019, EDF Renewables is a pioneer of cPPAs in the country, with experience acquired over a long time in other markets, notably in the United States, Brazil and the United Kingdom. . Indeed, in addition to the 600 MW of contracts signed in France, there are 6 GW of contracts signed worldwide since 2010, which makes EDF Renewables one of the major players in this sector.
Alexandre Lévy, Director of Investments and PPAs in France, at EDF Renewables, said : " The EDF Renewables teams are mobilized to support their customers in thehe energy transition. cPPAs guarantee the customer a renewable supply, thus contributing to reducing the carbon footprint of the electricity system. They also allow companies to benefit from a competitive electricity price that is independent of fluctuations in the electricity market. This visibility promotes our clients’ and ours’ investments.”
About EDF Renewables
EDF Renouvelables is an international energy company that develops, builds and operates renewable energy production plants.
A major player in the world's energy transition, EDF Renewables deploys competitive, responsible and value-creating projects within EDF. In each country, our teams are engaged on a daily basis with the territories by putting their expertise and their capacity for innovation at the service of the fight against climate change.
At the end of 2022, EDF Renewables has an installed capacity of 11.4 GW net (18.5 GW gross) worldwide.
Mainly present in Europe and North America, the company is also developing in emerging markets such as: South Africa, Brazil, China, India and the Middle East. Historically active in onshore wind power and photovoltaics, the Company is significantly strengthening its position in installed and floating offshore wind power, as well as in new technologies such as energy storage, floating solar and agrivoltaics.
For more information : www.edf-renouvelables.com
Follow us on Linkedin: https://www.linkedin.com/company/edf-renouvelables and on Twitter @EDF_RE in French and @EDF_Renewables in English.
PRESS CONTACTS
EDF Renewables
Eugénie Gai ▪ such. : +33 (0)1 41 02 78 31 ▪ email : eugenie.gai@edf-re.fr
Emilien Lacroix ▪ such. : +33 (0)1 40 90 21 48 ▪ email : emilien.lacroix@edf-re.fr