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ELECTRICITÉ DE FRANCE

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Real-time Euronext Paris  -  05/20 11:35:25 am EDT
8.408 EUR   +1.35%
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EDF to buy power from RWE offshore wind farm on UK coast

11/30/2021 | 10:31am EDT
The logo of EDF is seen on the French state-controlled utility EDF's headquarters in Paris

PARIS (Reuters) - French utility EDF on Tuesday said it had signed a 15-year power purchase agreement with Germany's RWE to purchase renewable electricity from a major offshore windpark in on the British coast.

The planned wind park named Sofia - located off the northeast coast of the UK - will be one of the largest of its kind in the world and is planned to go online in 2025, EDF said in a statement, .

"In what represents RWE and EDF's largest renewable energy agreement to date, EDF will offtake all of the 6.5 terawatt hours (TWh) of renewable wind energy that Sofia will produce each year," EDF said.

(Reporting by Tassilo Hummel; Editing by GV De Clercq)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ELECTRICITÉ DE FRANCE 1.35% 8.408 Real-time Quote.-14.87%
RWE AG 1.53% 43.12 Delayed Quote.20.72%
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Sales 2022 78 227 M 82 527 M 82 527 M
Net income 2022 -6 565 M -6 926 M -6 926 M
Net Debt 2022 64 976 M 68 547 M 68 547 M
P/E ratio 2022 -4,21x
Yield 2022 -
Capitalization 31 410 M 33 137 M 33 137 M
EV / Sales 2022 1,23x
EV / Sales 2023 1,11x
Nbr of Employees 163 423
Free-Float 15,0%
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Number of Analysts 16
Last Close Price 8,41 €
Average target price 10,68 €
Spread / Average Target 27,0%
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Jean-Bernard Levy Chairman & Chief Executive Officer
Xavier Rene Louise Girre Executive Director-Finance
Christophe Salomon Group Chief Information Officer
Laurence Parisot Independent Director
Claire Pédini Independent Director
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