EDF could unload US wind power to fund French nuclear
French state-owned giant said to consider divestment of 50% or more of North American renewable energy operations
French giant EDF is mulling the sale of 50% of its renewable energy business in North America to help fund massive spending on nuclear at home, according to reports.
EDF had a net 4.86GW of non-hydro capacity in the US at the end of 2024 including wind, solar and storage, according to the group’s annual report. The reports of a potential divestment come as the policies of Donald Trump dampen expectations for future US renewables growth.
EDF is facing a €67bn bill to build six new nuclear reactors in France as well as paying for other power and grid projects in its home market.
New CEO Bernard Fontana is under pressure to secure French power supplies and drive down bills after replacing predecessor Luc Remont earlier this year.
French media had earlier reported that EDF is looking to sell assets to fund its plans.
EDF’s US interests include the Atlantic Shores offshore wind project in conjunction with Shell, which has been a target for Trump’s hostile policies towards the sector.
The group has booked a €900m write down on Atlantic Shores, which had a key permit abruptly pulled by the Trump administration.
EDF has been contacted for comment about the report.