EDF : EDF finalises the acquisition of 750 MW of active generation capacity (gas and peak demand) to support the development of its renewable energy business in Chile

 Press release10 May 2018       EDF finalises the acquisition of 750 MW of active generation capacity (gas and peak demand) to support the development of its renewable energy business in Chile On the 10th of May 2018, the EDF Group - in a joint venture with...

London, 10/05/2018 (informazione.news - comunicati stampa - energia)

On the 10th of May 2018, the EDF Group - in a joint venture with the Chilean electricity company AME - finalised the agreement it signed with AES Gener for the acquisition of 750MW of flexible generation capacity (gas and peak demand). These assets will enable the EDF Group to further develop renewable energy projects in Chile by compensating for fluctuations in wind and solar output.

The transaction involves the natural-gas combined-cycle power plant (379 MW) and three peak-demand combustion turbines: (132 MW), (139 MW) and (100 MW). These assets are jointly held with AME and 75% of the transaction has been financed through a variety of bank loans. EDF and AME are planning to upgrade these assets in order to maximise their efficiency and environmental performance.

Through this joint acquisition, EDF and AME are strengthening their collaborative relationship and their position on the Chilean electricity market. Both companies are already partners in the power plant (115MWp) and in a gas-to-power project comprising a combined-cycle plant ( ) and a LNG storage/regasification infrastructure ( ).

The development of renewables combined with peak-demand capacity is one of Chile's key energy-transition strategies. The country is seeking to increase the proportion of renewables in its energy mix to 60% by 2035 while also phasing out coal-fired plants by 2050.

Marianne Laigneau, Group Executive Vice-President in charge of the International Division:

The EDF Group is active in Chile, where it is involved in renewable energy generation and in the provision of energy services:

A key player in energy transition, the EDF Group is an integrated electricity company, active in all areas of the business: generation, transmission, distribution, energy supply and trading, energy services. A global leader in low-carbon energies, the Group has developed a diversified generation mix based on nuclear power, hydropower, new renewable energies and thermal energy. The Group is involved in supplying energy and services to approximately 35.1 million customers, of which 26.5 million in France. The Group generated consolidated sales of €70 billion in 2017. EDF is listed on the Paris Stock Exchange.