EDF Aims to Double Turnover in Seven Years

French nuclear giant EDF is planning to double its turnover for energy services by 2025, of which at least a quarter will come from abroad, and achieve a turnover of €11bn ($12.3bn) by 2030, it said June 20, by a mix of organic growth and acquisitions.

It is launching EDF Solutions Energetiques, "a new banner that highlights its expertise and the skills boasted by its subsidiaries" such as Dalkia. Its energy solutions generated a turnover of €4.4bn in 2016. It will boost activities in countries where it already has a presence, and launch targeted takeover bids or buy shares in specialist companies.

It said: "Low-carbon heating systems, smart lighting, waste recovery, electric transport: these innovative areas complement each other and respond to the challenges faced by different regions and businesses. All of these services guarantee energy savings and the establishment of low-carbon solutions. They help businesses boost their competitiveness and tackle the challenges associated with performance. Local authorities appreciate them for their appeal and the way they help reduce their carbon footprint."

EDF Energy, the division running nuclear plants in the UK, will have a new CEO from November 1, as long-term incumbent Vincent de Rivaz, who most recently led the negotiations with the government on the terms for the construction of Hinkley Point C nuclear power plant, is to be succeeded by Simone Rossi, who runs EDF's international division. 

William Powell