EDF to become energy storage leader with €8bn investment


EDF has announced the €8 billion ($9.87 billion) electricity storage plan that will result in a further 10GW storage capacity by 2035, this on top of the 5GW already operated by the Group. 

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 ($86m) for the 2018-2020 period. Alongside this, EDF Nouveaux Business will be allocating €15 million ($18.5m) in the next two years – a third of its investments – to projects and start-ups linked to electricity storage and flexibility.

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.

In a changing energy landscape, storage has a critical role to play in the energy transition, alongside energy efficiency, nuclear and renewables.

The group is already involved in the main storage technology applications, including batteries and Pumped-Storage Hydroelectricity.

Jean-Bernard Lévy, EDF’s CEO and Chairman, explains: “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.

“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.”