EDF Renewables reported a “major acceleration” in commissioning and construction of new projects in 2020 and set an “upgraded” target of 60GW of net capacity by 2023.
The French developer commissioned 2.4GW of gross capacity in 2020, up from 1.9GW gross in 2019.
Gross capacity under construction at the end of 2020 rose to 8.1GW from 5.1GW at the end of 2019.
EDF said it had a pipeline of 60GW gross capacity, of which 29GW is under development, 24GW is at the prospection phase and 7GW is secured.
Among its European projects, commissioning of the French 480MW Saint-Nazaire offshore wind warm was scheduled for 2022, with the 450MW Neart na Gaoithe in Scotland expected to start up in 2023, the company said.
Renewable power output came to 15.4TWh in 2020, up 6.3% in organic terms. The increase related to commissioning of new capacity in 2019 in the US, Canada, India and France, and new projects coming online in 2020 in France, Israel and Brazil.
Revenue for 2020 came in at €1,582 million, up 7.6% in organic terms compared to 2019. EBITDA for 2020 was €848 million, down 23% in organic terms compared to 2019. The year on year drop was the result of an exceptional level development and asset sales in 2019, especially the disposal of 50% of NNG.
“The continued roll-out of our CAP2030 strategy has earned us significant achievements and prompted a major acceleration in renewable energies,” EDF Group Chairman and Chief Executive Officer Jean-Bernard Lévy said.
“2020 will be remembered as the year in which we adopted our Raison d’Etre and set ourselves ambitious climate targets that have placed us on the path towards carbon neutrality.”