EDF has announced that it plans to spend £4.5 billion in 2023 on the infrastructure required for the net zero transition.
The announcement came as the company released its annual update, and is part of a £50 billion plan to help build and maintain the UK’s net zero infrastructure. EDF confirmed that it will invest a further £5 billion in 2024.
The company said it had “achieved a major milestone this year when its carbon intensity at point of generation reached 0gCO2/MWh, which means that EDF now only generates zero carbon electricity.”
The company’s report set out how it plans to help customers avoid 5MtCO2e per annum through low-carbon solutions. In 2022, EDF said it helped customers avoid 0.5MtCo2 through the installation of smart meters, EV chargers, heat pumps and solar panels.
EDF is currently investing in solar and nuclear facilities in the UK, building three 50MW solar farms in Porth Wen, Sutton Bridge and Burwell, as well as the 450MW Neart na Gaoithe offshore wind farm in Scotland. The company also recently completed the 30MW West Benhar wind farm in North Lanarkshire. Porth Wen will supply power to NatWest bank under a PPA.
EDF signed a seven year Power Purchase Agreement (PPA) with Brockwell Energy to purchase renewable energy from the North Kyle onshore wind farm in Scotland last month. The company is also seeking a community consultation for a proposed 400MW onshore wind farm in the Scottish Borders.
In the nuclear sector, the company is building a 3.2GW European Pressurised Water Reactor (EPR) at Hinkley Point C in Somerset, and there are “advanced plans” to develop a similar 3.2GW EPR project at Sizewell C in Suffolk. Nuclear sites Heysham 1 and Hartlepool are having their lives extended to 2026.
In August 2023, the UK government announced that it would spend another £341 million to accelerate preparations for the Sizewell C nuclear plant.
The company report stated that EDF reduced its total carbon emissions by 17% over the previous year, with a 91% reduction in Scope 1 emissions from sources directly controlled by EDF. In June, EDF announced that it would begin decommissioning its West Burton A coal fired power plant.
Simone Rossi, CEO 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. At EDF we are unwavering in our commitment because we are clear what’s good for net zero is good for Britain’s energy security and protects customers from volatile energy prices. A just transition also creates massive economic opportunity for businesses and communities up and down the country.”