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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Electricité de France    EDF   FR0010242511

ELECTRICITÉ DE FRANCE

(EDF)
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Delayed Quote. Delayed Euronext Paris - 09/25 11:36:25 am
8.6 EUR   +0.16%
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German oil refinery to build 30 MW hydrogen electrolysis plant

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08/03/2020 | 05:22am EDT

Companies involved in a hydrogen project at the Heide oil refinery near Hamburg said on Monday they would build a 30 megawatts (MW) electrolysis plant as a first step towards developing commercial-scale carbon-free energy.

Germany last month agreed a national hydrogen strategy to help to decarbonise the economy, including providing 9 billion euros (8.1 billion pounds) to help promote new projects that can make the transition from pilot status to production of marketable clean fuel.

The country is aiming for 5,000 MW of electrolysis capacity by 2030 to replace conventional and nuclear power and to develop fuel for heating and transport to eventually replace gas and oil.

The partners involved in the Heide refinery project, known as WESTKUESTE 100, received approval for 30 million euros in funding from the economy ministry. They are providing 59 million euros making at total investment of 89 million, they said.

The spending plans are modest but the size of the plant - at 30 MW - is a considered a game changer in the development of hydrogen as a fuel.

Germany has been experimenting with around 40 electrolysis plants for a decade but the biggest so far measures 6 MW.

The plant will pass electricity from wind turbines through water to extract carbon-free hydrogen that will be used by the Heide refinery instead of fossil fuel-based hydrogen.

The plant will also produce alternative hydrogen fuels for the raw material needs of the partners in the project ranging from heat to kerosene and plastics.

The 10 partners in the project include the German sections of French utility EDF and cement maker Holcim, gas pipeline operator Open Grid Europe (OGE), Danish wind company Orsted, the Heide refinery, the Heide town's municipal utility, local utility network Thuega and Thyssenkrupp Industrial Solutions.

Eight of the partners are companies which are working with the Heide region's public sector development agency and the Westkueste University of Applied Sciences.

EDF, Orsted and the privately-owned Heide refinery will construct the plant in a newly founded joint-venture partnership.

By Vera Eckert

Stocks mentioned in the article
ChangeLast1st jan.
ELECTRICITÉ DE FRANCE 0.16% 8.6 Real-time Quote.-13.38%
ENGIE -0.13% 11.12 Real-time Quote.-22.78%
HOLCIM PHILIPPINES, INC. 0.94% 5.35 End-of-day quote.-60.66%
LAFARGEHOLCIM LTD 0.27% 41.37 Delayed Quote.-22.96%
LONDON BRENT OIL 0.12% 41.78 Delayed Quote.-36.77%
ORSTED A/S 1.85% 880 Delayed Quote.27.72%
THYSSENKRUPP AG -5.40% 4.365 Delayed Quote.-63.75%
WTI -0.42% 40.091 Delayed Quote.-34.31%
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Financials
Sales 2020 70 445 M 81 949 M 81 949 M
Net income 2020 1 758 M 2 046 M 2 046 M
Net Debt 2020 45 832 M 53 316 M 53 316 M
P/E ratio 2020 19,5x
Yield 2020 2,03%
Capitalization 26 649 M 30 962 M 31 001 M
EV / Sales 2020 1,03x
EV / Sales 2021 1,07x
Nbr of Employees 161 522
Free-Float 14,9%
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Technical analysis trends ELECTRICITÉ DE FRANCE
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 11,54 €
Last Close Price 8,60 €
Spread / Highest target 86,0%
Spread / Average Target 34,1%
Spread / Lowest Target -5,81%
EPS Revisions
Managers
NameTitle
Jean-Bernard Lévy Chairman & Chief Executive Officer
Xavier Rene Louise Girre Executive Director-Finance
Christophe Salomon Group Chief Information Officer
Jacky Chorin Director
Jean-Paul Rignac Director
Sector and Competitors
1st jan.Capitalization (M$)
ELECTRICITÉ DE FRANCE-13.38%30 962
ORSTED A/S27.72%57 644
NATIONAL GRID PLC-9.50%38 214
SEMPRA ENERGY-22.36%34 020
ENGIE-22.78%31 177
E.ON SE-2.54%28 119