EDF to develop 10GW battery storage projects
French energy giant to invest $9.9bn in storage between 2018 and 2035
EDF is planning to develop an additional 10GW of energy storage projects around the world by 2035, on top of the 5GW already operated by the company.
The French energy giant said the move represents an investment of $9.9bn over the 2018-2035 period.
Projects will be installed globally. EDF said, however, it aims to become the leader in the residential sector in France and Europe. Africa is also a priority market, it added.
New facilities that will be delivered over the next 12 month include at least three battery storage facilities and an extension to battery/solar initiatives in Ghana and the Ivory Coast.
EDF said it is also increasing its research and development capabilities for energy storage, doubling investment to $86.5mn for the 2018-2020 period.
The company's EDF Nouveaux business will also allocate $18.5mn over the next two years – one third of its investments – to projects and start-ups linked to storage and distribution flexibility.
EDF chairman and chief executive Jean-Bernard Levy said: “Electricity storage technologies have a potential to radically change the energy sector.”