EdF launches renewables joint venture

The UK arm of French utility EdF on Thursday launched a new 50-50 joint venture to further entrench its footprint in the UK green energy market.

The new firm, EDF Energy Renewables, will be co-owned by Edf Energy's clean technology subsidiary EDF Energies Nouvelles.

The parent firm said it would focus its UK business on developing offshore wind power, while its Edf Energy in the UK would buy all the electricity produced by renewable energy projects developed by the venture.

EDF Energy's chief executive Vincent said the subsidiary aimed to generate 1,000MW of power from renewable sources in the UK by 2020.

EdF Energies Nouvelles has over 2,500MW of renewable capacity in operation or under construction worldwide.

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