EDF eyes further market expansion

Electricite de France will further invest in China to strengthen its presence in the country as the Chinese government has been making greater efforts to attract foreign capital and widen market access, said a top company executive.

"We are committed to consolidate our presence in nuclear power, solar, onshore and offshore wind power, as well as energy services in the country," said Fabrice Fourcade, EDF China chairman, in an interview in Beijing recently.

"We welcome China's efforts to widen market access and promote further opening-up of modern service industries. EDF has been and will continue to aid the country's transition to a low-carbon economy, and we will continue working with local partners and develop a long-term strategic partnership in China," Fourcade said.

He made the remarks during the EDF Pulse Awards China held in Beijing in May — an award that helps Chinese startups use new technology solutions to make electric power generation more ecologically friendly and better connected.

Fourcade said that with innovation at the core of all its work, EDF has diversified its business in China in recent years into low-carbon energy services, including low-carbon heating and cooling networks, EV charging solutions, renewable energy and engineering consultant services.

As one of the largest foreign investors in China's power generation sector, holding nuclear, thermal and renewables assets in China with a net installed capacity of 3,408 megawatts, EDF is committed to providing innovative solutions and technologies under China's double carbon targets, he said.

EDF became the first foreign investor in Chinese nuclear power projects in 2009 via participation in the Taishan European Pressurized Water Reactor (EPR) nuclear power plant, which is led by Taishan Nuclear Power Joint Venture Co, a company founded by State-owned China General Nuclear Power Group (51 percent), EDF (30 percent) and Guangdong Energy Group (19 percent). It is the largest cooperation project to have been signed between China and France in the energy sector.

Taishan's two reactors are capable of supplying the Chinese power grid with up to 24 terawatt-hours of carbon dioxide-free electricity each year, EDF said.

Lin Boqiang, head of the China Institute for Studies in Energy Policy at Xiamen University, said China's energy transition has brought numerous opportunities to multinational corporations like EDF.

International firms have also been stepping up efforts to align their core business activities with market demand in China, he said.

Among the first batch of foreign companies to enter China to help the country develop its nuclear energy infrastructure, EDF believes there is space for further cooperation with Chinese partners in the sector, even though China is among the world's leaders in nuclear technologies.

Du Wenhui, EDF R&D China center director, said technology research and innovation have long been playing a key role in China's pledge to reduce carbon emissions.

EDF will further strengthen its cooperation and relations with innovative Chinese companies to jointly bring more projects to operational stages in China as well as in Europe, Du said.