EDF to spend $3 billion on wind power to 2010: chairman

EDF to spend $3 billion on wind power to 2010: chairman

Paris (Platts)--10Jul2006

State-run Electricite de France is to invest Eur3 billon ($3.84 billion)
in wind power over the next four years as part of its plan to increase its
share of the wind power market in France from 15% to 20%, company chairman
Pierre Gadonneix said over the weekend.
Gadonneix said EDF was setting up a new company at the end of the year to
promote renewable energy and energy saving, in preparation for the opening of
the power market to French households from July next year.
"From now until 2010 we are going to invest 3-bil in wind power, the same
amount as we are investing to build our next nuclear power plant, EPR,"
Gadonneix told French Sunday paper "Journal du Dimanche."
Gadonneix said the investment would be financed by floating 50% of the
company's renewable energy subisdary, EDF Energies nouvelles, on the French
stock exchange. The sale could get the go-ahead from EDF's board before the
end of the year. EDF would conserve 50% of the capital of the company,
Gadonneix said.
French wind power generating capacity had tripled in the last 18 months,
rising from 350 MW in 2004 to 1,000 MW, he added.

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