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State-owned utility is reportedly considering a more cautious approach due to offshore wind hold-ups Electricite de France (EDF) is reportedly considering a more cautious approach to renewable energy projects after facing offshore wind construction setbacks. According to a Bloomberg report, EDF is launching a review of renewable energy projects due to construction delays and budget over-runs for wind farm developments. The state-owned utility is carrying out the review to avoid a repeat of the delays and budget overruns recently seen at the 450MW Courseulles-sur-Mer wind farm off France’s northwest coast, unnamed sources told Bloomberg. A more cautious approach from EDF could open doors to other French renewable energy developers. Together with its partners, EDF has won six of the 11 offshore projects tendered by the French government since 2012. In January this year, it was revealed that Saipem had run into a delay drilling for foundations at the Courseulles-sur-Mer wind farm. The contractor started the operation late last year, understood to be last October, but had only managed to complete one foundation location. Other offshore wind developments that have faced setbacks include the 2.8GW Atlantic Shores project. In February, EDF recorded a €900m impairment for the project, which is located off the coast of New Jersey. EDF’s joint venture partner Shell had already announced its own impairment of nearly $1bn and pulled out of the venture. Renews has contacted EDF for comment. |
