Latest news with #ElectricitédeFrance
Yahoo
17-07-2025
- Business
- Yahoo
EDF mulls stake sale for North American and Brazilian renewables
French utility Electricité de France (EDF) is exploring options to attract capital for its North American and Brazilian renewables divisions, including the potential sale of stakes of up to 50%. An EDF spokesperson confirmed on Wednesday 16 July 2025 that the company is considering various ways to bring in capital, as reported by Reuters. The EDF power solutions spokesperson stated: "We are studying the possibility of opening the capital of some of our subsidiaries to partners.' The announcement follows a Bloomberg report which suggested that a stake sale in EDF's North American operations might generate €2bn ($2.32bn). EDF CEO Bernard Fontana is seeking financing to support the construction of six new nuclear reactors as well as renewable projects in France to decrease the country's dependence on fossil fuels. He has indicated that asset sales are under consideration as one potential route for raising necessary funds. Fontana has previously expressed his commitment before lawmakers towards prioritising domestic nuclear projects. With France relying heavily on an ageing fleet of 57 nuclear reactors for electricity production, there is a pressing need to strengthen long-term power generation capabilities. EDF has been searching for external funding sources for two major UK-based nuclear reactor projects. In 20242, the utility invested €22.4bn, primarily in maintaining and upgrading France's 57 nuclear plants and power grids, and building two UK reactors, with only 12% of capital expenditure allocated to renewables. Early in his second term, which began in January 2025, US President Donald Trump signed an executive order aimed at repealing or altering tax credits for solar and wind projects, citing concerns about reliability and cost-effectiveness compared with other energy sources. In February 2025, EDF incurred an impairment of €934m on its Atlantic Shores offshore wind farm project, a joint venture with Shell located off the US state of New Jersey. The project's development permit was revoked in March. In June, EDF announced a £1.1bn ($1.49bn) investment in the UK's Sizewell C nuclear project. This investment will secure a 12.5% stake for EDF in Sizewell C, and create thousands of jobs in the UK. "EDF mulls stake sale for North American and Brazilian renewables" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TimesLIVE
26-05-2025
- Business
- TimesLIVE
World Bank approves $350m grant for Malawi hydropower project
The World Bank's board of directors has approved a $350m (R6.25bn) grant to support a large hydropower storage project in Malawi that will significantly increase the Southern African country's generation capacity. The World Bank said in a statement earlier this month that the Mpatamanga Hydropower Storage Project would help supply electricity to over 1-million new households and create thousands of jobs. The public-private partnership with an expected overall cost of over $1.5bn (R26.79bn) will represent the largest foreign direct investment in Malawi's history. In September 2022 the Malawian government selected a consortium consisting of Electricité de France and SN Malawi BV owned by British International Investment, Norfund and TotalEnergies to lead the project's development and implementation. The project will have a total generation capacity of 358 megawatts, doubling Malawi's installed hydropower capacity by building two dams along the Shire River between two existing hydropower facilities, according to its website.
Business Recorder
16-05-2025
- Business
- Business Recorder
World Bank approves $350 million grant for Malawi hydropower project
BLANTYRE: The World Bank's board ofdirectors has approved a $350 million grant to support a large hydropower storage project in Malawi that will significantly increase the Southern African country's generation capacity. The World Bank said in a statement late on Thursday that the Mpatamanga Hydropower Storage Project would help supplyelectricity to over 1 million new households and create thousands of jobs. The public-private partnership with an expected overall cost of over $1.5 billion will represent the largest foreign direct investment in Malawi's history. Malawi's IMF programme ends after only $35 million disbursed In September 2022 the Malawian government selected a consortium consisting of Electricité de France and SN Malawi BV owned by British International Investment, Norfund and TotalEnergies to lead the project's development and implementation. The project will have a total generation capacity of 358 megawatts, doubling Malawi's installed hydropower capacity by building two dams along the Shire River between two existing hydropower facilities, according to its website.
Yahoo
16-05-2025
- Business
- Yahoo
World Bank approves $350 million grant for Malawi hydropower project
BLANTYRE (Reuters) -The World Bank's board of directors has approved a $350 million grant to support a large hydropower storage project in Malawi that will significantly increase the Southern African country's generation capacity. The World Bank said in a statement late on Thursday that the Mpatamanga Hydropower Storage Project would help supply electricity to over 1 million new households and create thousands of jobs. The public-private partnership with an expected overall cost of over $1.5 billion will represent the largest foreign direct investment in Malawi's history. In September 2022 the Malawian government selected a consortium consisting of Electricité de France and SN Malawi BV owned by British International Investment, Norfund and TotalEnergies to lead the project's development and implementation. The project will have a total generation capacity of 358 megawatts, doubling Malawi's installed hydropower capacity by building two dams along the Shire River between two existing hydropower facilities, according to its website.
Reuters
16-05-2025
- Business
- Reuters
World Bank approves $350 million grant for Malawi hydropower project
BLANTYRE, May 16 (Reuters) - The World Bank's board of directors has approved a $350 million grant to support a large hydropower storage project in Malawi that will significantly increase the Southern African country's generation capacity. The World Bank said in a statement late on Thursday that the Mpatamanga Hydropower Storage Project would help supply electricity to over 1 million new households and create thousands of jobs. The public-private partnership with an expected overall cost of over $1.5 billion will represent the largest foreign direct investment in Malawi's history. In September 2022 the Malawian government selected a consortium consisting of Electricité de France and SN Malawi BV owned by British International Investment, Norfund and TotalEnergies ( opens new tab to lead the project's development and implementation. The project will have a total generation capacity of 358 megawatts, doubling Malawi's installed hydropower capacity by building two dams along the Shire River between two existing hydropower facilities, according to its website.
