Buzz Update France’s EDF can sell regenerators to focus on nuclear TOU

Buzz Update France’s EDF can sell regenerators to focus on nuclear

 TOU

France’s EDF can sell regenerators to focus on nuclear

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Wednesday, 2022-04-13 16:10

PARIS: France is considering restructuring plans for debt-ridden power company EDF, along with the sale of its renewable business along with full nationalization to focus on nuclear power, BFM Business reported, citing unidentified sources.
The website states that the government is working with investment bank Goldman Sachs on a number of restructuring scenarios.
Anonymous bankers claim that 15 billion euros ($ 16 billion) will be raised from the sale of renewable businesses, which could finance the construction of six next-generation EPR nuclear reactors.
BFM said the sale could attract the interest of French energy group Eng, in which the state has a 24 per cent stake.
A Finance Ministry official told Reuters he had no plans to sell EDF’s renewable energy division and denied that the government was focusing on converting it to MG.
The spokesman also noted the ongoing French elections and said no decision would be taken on the EDF until a new government is formed.
Goldman Sachs declined to comment. Angie did not immediately respond to a request for comment.
At 0825 GMT, EDF shares were up 2.9 per cent at 8.57 euros, while NG shares were down 0.06 per cent at 11.44 euros.
“We believe Angie is clearly interested in accelerating its growth in reproducibility. That fact must be taken into account. “
“We believe that both (President Emmanuel) Macron and (Marine) Le Pen are supporting nuclear power, and what will be decided will depend on the election results,” they said. Presidential vote.
Macron told reporters on March 17 that when he submitted his program for re-election, the state – which already holds more than 80 percent of the EDF – wanted to further strengthen its capital position in the utility.
At a time when Western nations are trying to reduce their reliance on Russian gas, Macron has come forward as a way to secure its debt for the EDF and the future of the capital-intensive nuclear sector.

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