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Home › Dodgy Deals ›
Dodgy Deal
EDFFrance

Company – On record

This profile is no longer actively maintained, with the information now possibly out of date
Lead organisation:
BankTrack
Last update: 2020-12-22 00:00:00
EDF Nuclear Power Station. Photo: EDF

Company – On record

This profile is no longer actively maintained, with the information now possibly out of date
Lead organisation:
BankTrack
Last update: 2020-12-22 00:00:00
Why this profile?
About
Sectors Nuclear Electric Power Generation , Biomass Electric Power Generation, Hydroelectric Power Generation, Solar Electric Power Generation, Wind Electric Power Generation
Headquarters
Ownership

Shareholders

Subsidiaries
Website https://www.edf.fr/

Like its rival and fellow French multinational AREVA, Électricité de France (EDF) is one of the biggest players in the global energy game. In fact, with more than 158,000 employees, a 2009 profit of 3.9 billion euros, and electricity generation operations in Europe, Asia, the Middle-East, Latin America, and Africa, they don't come any bigger: EdF is the world's largest utility and the French state owns 85% of it.

Three quarters of the 22% of Europe's electricity generated by EdF comes from the company's nuclear reactors. It operates 58 reactors in France alone. EdF has however, struggled to maintain some of its reactors. The hot summer of 2009 meant that inland reactors reliant on river water could not be cooled properly and therefore not operate. A third of France's nuclear generating capacity was out of action and EdF was forced to import electricity from the UK.

In the following winter 15 reactors were closed for various reasons meaning electricity again had to be imported - the equivalent of four nuclear reactors' production. In 2008, the French Nuclear Safety Authority (ASN) refused or suspended the accreditation of EdF's laboratories responsible for monitoring radioactivity around the company's sites because of shortcomings in their radiation monitoring methods.

EdF doesn't seem to be doing any better with its new reactors. Documents leaked by an EdF insider show that the over-budget and behind schedule so-called state of the art EPR reactor being built for EdF at Flamanville in France has defects in its control systems that could cause an ‘a Chernobyl-type accident'. EdF, in partnership with AREVA, is proposing to build four EPRs in the UK.

Impacts
Financiers

EDF has raised €2.4 billion ($2.8bn) in green bonds to fund the financing and refinancing of renewable energy projects to grow its portfolio to 50GW by 2030. Bond arrangers include JPMorgan, Barclays, BNP Paribas, Citigroup, Commerzbank, Credit Suisse, Deutsche Bank, Natixis, and Societe Generale. 

Institution type
Finance type
Year
Projects

Tapajós Hydroelectric Complex and Tapajós Waterway

Brazil
Project
Active
Hydroelectric Power Generation

Tapajós Hydroelectric Complex and Tapajós Waterway

Brazil
There are no active project profiles for EDF now.

Grand Inga dam

Congo, the Democratic Republic of the
Project
On record
Hydroelectric Power Generation

Grand Inga dam

Congo, the Democratic Republic of the

São Luiz do Tapajós dam

Brazil
Project
On record
Hydroelectric Power Generation

São Luiz do Tapajós dam

Brazil
News
BankTrack
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External
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BankTrack news BankTrack blog Partner news Partner blog

Fear of change could precipitate demise of Europe’s energy giants

New report illustrates failure to adapt to changing market conditions
2014-02-27 | Brussels | Greenpeace
Resources
Documents
Links
2018-11-20 00:00:00

Last Gasp - The coal companies making Europe sick

NGO document
2018-11-20 00:00:00 | Climate Action Network Europe
2009-05-17 00:00:00

EDF Group 2007 Sustainable Development Report

Company document
2009-05-17 00:00:00 | EDF Group
2009-05-17 00:00:00

EDF Group 2007 Annual Report

Annual report
2009-05-17 00:00:00 | EDF Group
2009-05-17 00:00:00

The Inspector General’s report on Nuclear Safety and Radiation Protection 2008

Company document
2009-05-17 00:00:00 | EDF Group
2009-05-17 00:00:00

Nuclear Map

Company document
2009-05-17 00:00:00 | EDF Group

Activists demand nuclear plant closed

Garoña is an obsolete plant with serious safety problems. Its licence is due to end in July 2009. However, in its zeal to obtain more benefits, the owner company, Nuclenor (50 percent Endesa-50 percent Iberdrola), has asked for a 10 year extension.
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