EDF to invest £4.5bn this year in clean, secure and affordable energy as it releases progress update
EDF will invest £4.5bn this year as it continues to help build and maintain the country’s Net Zero infrastructure.
Britain’s biggest generator of zero carbon electricity has today (Tuesday) released its annual update, showing the progress it has made as part of its plan to enable £50bn investment in helping the country be carbon net zero by 2050.
EDF 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.
In the report, the energy provider sets out its progress to achieving the goal of helping customers avoid 5MtCO2e per annum through low-carbon solutions.
EDF helped customers avoid 0.5MtCo2 in 2022 with the installation of smart meters, EV chargers, heat pumps and solar panels. It also funded the installation of more than 15,500 efficiency measures as part of the ECO4 scheme. In 2021, it helped customers avoid 0.3MtC02e.
EDF will continue to invest in maintaining its renewables and nuclear generators, aiming to build three 50MW solar farms in Porth Wen, Sutton Bridge and Burwell, while the Neart na Gaoithe 450MW offshore wind farm will have the potential to supply around 375,000 Scottish homes by 2024. EDF 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 provided power for around 106,000 homes since 2019.
The energy provider will continue its investment in nuclear by building a 3.2GW European Pressurised Water Reactor (EPR) at Hinkley Point C in Somerset. There are advanced plans to develop a similar 3.2GW EPR project at Sizewell C in Suffolk. The decision to extend the life of Heysham 1 and Hartlepool to 2026 will boost Britain’s energy security and Net Zero goals.
The report details how the energy provider has reduced its total carbon emissions by 17% compared to 12 months previously, driven by a 91% decrease in Scope 1 (emissions that occur from sources that are controlled or owned by EDF). Scope 3, emissions which EDF is indirectly responsible for up and down its value chain, represents 99% of total emissions.
The report also presents how EDF aims to have a positive impact on biodiversity, to contribute to the circular economy and to make a strong socio-economic contribution, supporting customers, local economies and communities and the STEM skills of tomorrow’s energy innovators.
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.
“That’s why alongside our Net Zero ambitions, our sustainable business plan sets out how we continue to support our customers, provide a great place to work and make a broad positive contribution to society.”
The full report can be found here.