EDF is company owned by the government of France. The company develops pumped storage hydro-power plants. Furthermore, it develops power storage batteries for utility purposes. The company is aiming at making itself the largest operator in the European and French markets. This is by giving customers in the retail power stations storage batteries.
Through storage, the company can support the provision of renewable energy. Therefore this can ensure there is a balance in the usage of power grids. This is according to Jean-Bernard Levy who is the company’s CEO. European nations are increasing their usage of power storage. This is because the use of renewable energies is at times unreliable. Therefore it calls for a standby power supply.
EDF is planning to make an investment worth $9.94 billion between 2018 and 2035. This is in its aim to become the largest electricity storage in the European markets. The investment will also focus on improving the power grid resilience. This is more so on off-grid solar and storage systems and on individual storage for retail customers having solar panels in Africa. This will be especially in Ivory Coast and Ghana. According to Levy EDF will use both debt and equity in financing the investment.
The company is also planning to develop another storage capacity of 10 gigawatts globally by 2035. It will produce industrial-scale storage system of 6 GW more so in batteries and pump storage. It will also develop 4 GW of single batteries. This will be set aside for companies, municipal and retail customers. Pumped storage stations store water when the prices of electricity are low and release it when the prices have gone up. But they do not make huge profits due to the difference between troughs and pick prices.
Within the next one year, the company has plans to launch two battery projects on top of what they already have. This is aimed at offering stability to the grids. It also aims at developing a portfolio of 1.2 million African off-grid customers by 2035. This will equip Africans with individual battery systems and solar panels. The company is also planning to roll-out an investment worth eight million euro. This is to take place for a period of more than 17 years to come.
EDF plans to increase its research and develop into 70 million euros power storage between 2018 and 2020. By 2020 the company plans to invest 15 million euros in startups and projects connected to flexibility and power storage. It also announced that it will develop 30 GW of solar capacity with 25 billion euros. This will be between 2020 and 2035. The project will get funding from loans, equity partners and project financing.