EDF sees 21% rise in renewables earnings
French energy group EDF has seen a significant rise in earnings from its renewables business over the past year. The figure for the first half of 2018 has increased almost 21% from the same period last year, with the company having made €1.1bn in H1 2018 from €917mn in H1 2017.
The company has benefitted from increased wind and solar generation in particular, with reNEWS reporting that hydro output in France was up over 37% on 2017.
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Total renewable sales in the period stood at almost €2.4bn, an increase of over 20% on the previous year.
Overall, EDF Group reported positive earnings across the board, with the total figure up 18% year on year. Total profit was over €8.23bn as opposed to just under €7bn last year. Sales also grew by 5.6%.
EDF’s chairman and chief executive Jean-Bernard Lévy stated that the results “confirm the rebound announces for 2018, thanks to a solid operational performance and to the continuation of the cost reduction efforts”, according to the Financial Times.