Wednesday 13 September 2023

EDF announces £4.5bn investment for net zero

EDF announces £4.5bn investment for net zero

EDF is poised to invest £4.5 billion this year in advancing the country's net zero infrastructure.

EDF's ambitious investments include the development of three 50MW solar farms and the Neart na Gaoithe 450MW offshore wind farm, set to power approximately 375,000 Scottish homes by 2024.

The company has also completed the construction of the 30MW West Benhar wind farm, while EDF Renewables' largest onshore wind farm in Europe, the 177MW facility in Dorenell, has been supplying electricity to around 106,000 homes since 2019.

The company's recently released annual update underscores its progress toward a £50 billion investment plan aimed at achieving the UK's carbon neutrality goal by 2050.

The report outlines EDF's commitment to helping customers reduce emissions by five million tonnes annually through the adoption of low carbon technologies.

According to the data, in 2022, EDF prevented 0.5 million tonnes of carbon dioxide emissions through the installation of smart meters, electric vehicle chargers, heat pumps and solar panels.

Additionally, more than 15,500 efficiency measures were funded as part of the ECO4 scheme, resulting in more than £3 million in annual bill savings for low income households.

Simone Rossi, Chief Executive Officer at EDF, said: "Much has happened since we set out our purpose to help Britain to achieve net zero three years ago.

"Two years of energy crisis have been a stark reminder that progress to net zero must also deliver secure and affordable energy for homes and businesses.

"Action at scale and pace is needed."

Written by

Bruna Pinhoni

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