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EDF plans £50B investment in low-carbon technologies in UK by 2035

Electricité de France SA released a plan to invest £50 billion in low-carbon and renewable energy technologies in the U.K. by 2035.

The investment will translate into nearly 12,000 MW of wind, solar and nuclear power projects, provided the country has the right policies in place, the French power giant said in a report.

The company is already working on two massive nuclear projects in England, namely the 3,277.2-MW Hinkley Point C in Somerset and the 3,340.0-MW Sizewell C in Suffolk. The projects are under construction. Hinkley Point C is expected to become operational between 2025 and 2026, according to S&P Global Market Intelligence data. The Sizewell project is expected to enter operations by 2032.

In the renewable energy sector, EDF has 1 GW of renewable power in operation across 36 sites in the U.K., 600 MW under construction and almost 4 GW in planning and development. The country's contracts for difference support framework has given a large boost to renewable energy in the country, helping drive significant reductions in costs, it said.

The company is also planning battery storage projects across 40 sites in the U.K. and is supporting the delivery of the government's £500 million rapid charging fund for electric vehicle infrastructure. The future investments also include hydrogen production projects.