EDF to Develop 30GW of Solar Capacity in France by 2035

Electricite de France SA (EDF.FR) said on Monday that it will build and develop solar plants in France as part of a "solar power plan" to develop 30 gigawatts of capacity between 2020 and 2035, a volume four times greater than the country's current solar energy capacity.

The company's Chief Executive and Chairman Jean-Bernard Levy said the utility will invest about 25 billion euros into the project, according to recent press reports.

"It [the solar power plan] is a concrete illustration of the goals outlined in the group's CAP 2030 strategy, which was initiated in 2015 and aims to double the group's installed renewable energy capacity," Mr. Levy said.

EDF said it will work with French public authorities to identify suitable land for the construction of the new solar facilities.

The company's solar power plan will help to create tens of thousands of jobs in France during the construction period, it added.

Write to Euan Conley at euan.conley@dowjones.com

(END) Dow Jones Newswires

December 11, 2017 08:35 ET (13:35 GMT)