EDF to invest €8bn in energy storage by 2035

It aims to develop 10GW of additional electricity storage projects globally over the next 17 years

By Priyanka Shrestha

French energy giant EDF has announced it will invest €8 billion (£7bn) in energy storage technology until 2035.

It is part of its plans to develop 10GW of additional electricity storage across the world over the next 17 years and become a European market leader.

Projects will include storage batteries as well as pumped storage hydroelectricity.

Africa is also a priority market for the company, with a goal to develop a portfolio of 1.2 million off-grid customers by 2035 through local partnerships.

Jean-Bernard Lévy , EDF’s CEO and Chairman said: “Electricity storage technologies have a potential to radically change the energy sector… The new limit the Group is setting is a 100% carbon-free power system by 2050.”

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