This paper argues for a novel approach to financing infrastructure needs in Arab countries. It first describes the context of rising public debt in the region, contrasting it with the vast infrastructure needs. It then discusses the challenges in meeting these needs with traditional financing. The paper then makes the case for maximizing finance for development, by using public-private partnerships, and presents a few successful examples in Arab countries. Finally, the paper explores the way forward and concludes on the need for strong state capacity and integrity to promote the maximizing finance for development approach.
Read more: Developing Public-Private...


This international workshop held in Santiago de Chile on April 9, is the final one of a series of activities which the World Bank has been supporting since 2014 through the Latin American Open Parliamentary Network to strengthen the region’s legislative branches to ensure greater transparency. The objective of the workshop, hosted by the Chilean House of Representatives, was to discuss the implementation of Chile’s transparency agenda, including the role played by Parliament in implementing transparency reforms. To this end, the event had special invitees, such as the Comptrollers of Peru and Chile, in addition to the Chilean Attorney General’s Office. The event also had the participation of public sector actors, academia, international organizations and civil society.
Read more: Chile - International Workshop on...


The Global Energy Progress Report 2019 provides a global dashboard on progress towards Sustainable Development Goal 7 (SDG7), which sets 2030 targets for reaching universal access to electricity and clean fuels and technologies for cooking, substantially increasing the share of renewable energy in the global mix, and doubling the rate of improvement of energy efficiency. All the data used in this pamphlet comes from the respective official source: for electrification, the World Bank; for clean fuels and technologies for cooking, the World Health Organization (WHO); for renewable energy, the International Energy Agency (IEA), the United Nations Statistics Division (UNSD) and the International Renewable Energy Agency (IRENA); and for energy efficiency, the IEA and UNSD. All projections are from the IEA’s World Energy Outlook. This report identifies best practices that have proven successful in recent years, as well as key approaches that policy makers may deploy in coming years. Recommendations applicable to all SDG 7 targets include recognizing the importance of political commitment and long-term energy planning, stepping up private financing, and supplying adequate incentives for the deployment of clean technology options. The following sections review progress in electricity access, access to clean cooking solutions, renewable energy, and energy efficiency. The Energy Progress Report reviews progress to 2017 for energy access and to 2016 for renewable energy and energy efficiency, against a baseline year of 2010. Its methodology is detailed at the end of each chapter.
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Read more: Tracking SDG 7 The Energy Progress...


Document Date: 2019/05/01 10:18:01
Document Type: Working Paper
Report Number: 136895
Volume No: 1
Country: Africa ; 
Disclosure Date: 2019/05/14 10:16:15
Doc Name: The Power of Dung : Lessons Learned from On-Farm Biodigester Programs in Africa
Keywords: biogas; Savings and Credit Cooperative; energy sector management assistance; Chronic Obstructive Pulmonary Disease; combustion of biomass fuel; country case study
Language: English
Rel. Proj ID: 3A-Integrating Biodigesters For Cooking Into Small Farm Activities -- P164656 ; 
Region: Africa ; 
Rep Title: The Power of Dung : Lessons Learned from On-Farm Biodigester Programs in Africa
Topics: Industry ; Agriculture ; Water Resources ; Energy
SubTopics: Energy Demand ; Energy and Mining ; Energy and Environment ; Health Care Services Industry ; Food Security ; Hydrology ; Energy Policies & Economics
TF No/Name: TF0A6168-Integrating Biodigesters for Cooking into Small Farm Activities
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Over half the world’s population cooks primarily with wood, charcoal, coal, crop waste, or dung. This share is currently increasing or stagnant in most regions. Dependence on solid fuels is one of the world’s major public health challenges, causing more premature deaths than HIV/AIDS, malaria, and tuberculosis combined. The use of solid fuels and stoves also imposes significant economic costs on societies that can least afford them and contributes to adverse environmental and climate change effects. Traditionally the area of improving access to modern energy services has fallen in the realm of energy experts. However, a new study conducted by the World Bank between 2017-2019 asks the question: Does Agriculture have a role to plan in improving access to modern cooking services? The report: “The Power of Dung: Lessons Learned from On-Farm Biodigester Programs in Africa” examines on-farm biodigester programs in selected countries in Africa and examines the success factors of the programs. One of the report’s most important findings is that reframing the promotion of biodigesters from one providing clean cooking solutions (energy) to one providing improved fertilizers (agriculture) increases the attractiveness of the solutions among farmers.


Complete Report

Official version of document (may contain signatures, etc)
Click here to see PDF filePDF  108 pages Official Version 1.94 (approx.)
Click here to see text fileText Text Version*

Related Links

  • See documents related to the project(s)
Read more: The Power of Dung Lessons Learned...

| Source: Scatec Solar ASA

Oslo, 24 May 2019: Scatec Solar has signed a strategic collaboration agreement with Vietnamese partner MT Energy (MTE) for 485 MW of solar PV

Scatec Solar has partnered with MT Energy, a Vietnamese energy company, to develop, finance, construct and operate large-scale solar projects in Vietnam. The strategic collaboration agreement covers three projects located in Binh Phuoc, Quang Tri, and Nghe An provinces. The projects total 485 MW and are targeted to be realised under a new feed-in tariff regime that is expected to be launched later this year.

The agreement will be presented to the Vietnamese Prime Minister, Norway’s Minister of Trade and Industry and other high-level officials during a Vietnam-Norway business forum organised as part of the Vietnamese Prime Minister’s official visit to Norway.

“With this partnership we take the first step in positioning Scatec Solar for the growing solar market in Vietnam. As an affordable, fast and reliable source of energy, we believe solar energy has tremendous potential in Vietnam”, says Raymond Carlsen, CEO of Scatec Solar.

Scatec Solar is envisioned to provide the project’s equity funding. In addition, the company will be the turn-key EPC provider and will be providing Operation & Maintenance as well as Asset Management services to the projects.

For further information, please contact:

Mikkel Tørud, CFO                  tel: +47 976 99 144           This email address is being protected from spambots. You need JavaScript enabled to view it. 

Ingrid Aarsnes, Communication & IR  tel: +47 950 38 364   This email address is being protected from spambots. You need JavaScript enabled to view it.

About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. A long- term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants and has an installation track record of more than 1 GW. The company has a total of 1.7 GW in operation and under construction in Brazil, the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South Africa and Ukraine.

With an established global presence and a significant project pipeline, the company is targeting a capacity of 3.5 GW in operation and under construction by end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'SSO'. To learn more, visit www.scatecsolar.com

Read more: Scatec Solar signs strategic collaboration...


Author: Arezki,Rabah ; 
Document Date: 2019/05/20 11:27:00
Document Type: Policy Research Working Paper
Report Number: WPS8858
Volume No: 1
Country: World ; 
Disclosure Date: 2019/05/20 11:24:24
Doc Name: The Economics of Sustainability : Causes and Consequences of Energy Market Transformation
Keywords: oil; technological change; energy market; Securities and Exchange Commission; marginal cost of production; early stage of development; total primary energy consumption; government transfer; oil and gas company; oil price collapse; price of oil; oil sector; learning by doing; current account deficit; oil price decline; barrel of oil; fossil fuel production; renewable energy resource; fossil fuel reserve; attitudes toward innovation; Oil & Gas; natural gas industry; cost of capital; number of patents; global energy mix; global surface temperature; renewable energy source; source oil; public sector revenue; increased oil prices; layers of rock; lower oil price; global oil supply; natural resource curse; capital of state; impact on price; energy market development; high oil price; minister of finance; greenhouse gas emission; development of technology; state owned enterprise; fossil fuel producer; initial public offering; resource rich countries; corporate governance structure; hard budget constraint; global energy market; source of energy; solar power plant; compressed natural gas; alternative fuel vehicle; forms of energy; flow of fund; natural resource governance; fossil fuel price; shale oil; recovery technique; cost structure; stranded asset; technological innovation; Global Warming
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Language: English
Region: The World Region ; 
Rep Title: The Economics of Sustainability : Causes and Consequences of Energy Market Transformation
Topics: Science and Technology Development ; Health, Nutrition and Population ; Social Development ; Industry ; Environment ; Rural Development ; Law and Development ; Energy ; Public Sector Development ; Governance ; International Economics and Trade
SubTopics: Energy and Mining ; Energy Demand ; Energy and Environment ; Public Sector Administrative and Civil Service Reform ; State Owned Enterprise Reform ; Public Sector Administrative & Civil Service Reform ; Economics and Finance of Public Institution Development ; Democratic Government ; De Facto Governments ; Climate Change and Health ; Climate Change and Environment ; Science of Climate Change ; Legal Products ; Common Property Resource Development ; Regulatory Regimes ; Legal Reform ; Judicial System Reform ; Legislation ; Real & Intellectual Property Law ; Intellectual Property Rights ; Social Policy ; Oil Refining & Gas Industry
Unit Owning: Off of Sr VP Dev Econ/Chief Econ (DECVP)
Collection Title: Policy Research working paperno. WPS 8858
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The paper deals with the economics of sustainability associated with the transformation of energy markets. It emphasizes the interrelations between technical changes and energy markets and how in turn the resulting transformations alter the sustainability of economic systems that are dependent on these markets. It also explores how innovation (or the lack thereof) is intimately linked to the ability of energy rich economies to adapt and transform. The agenda is especially relevant for oil rich countries that have announced or already put in place policies to help transform their economies and move away from dependence on oil. The agenda is also relevant for the global community, as it relates to the economic consequences of the needed transformation of energy markets to support the goal of limiting global warming by reducing greenhouse gas emissions.


Complete Report

Official version of document (may contain signatures, etc)
Click here to see PDF filePDF  18 pages Official Version 0.44 (approx.)
Click here to see text fileText Text Version*
Read more: The Economics of Sustainability...

| Source: EDF


14 May 2019

Quarterly Financial Information at 31 March 2019
Sales up 1.7% ([1])
Confirmation of 2019 targets and 2019-2020 ambitions

  Group sales  €21.0bn
+1.7% org. (1)
    New developments in renewable energies Record level of EDF Renewables' portfolio of projects under construction: 1.2GW gross put into construction in the first quarter, i.e. 3.5GW gross at the end of March (including 1.4GW in solar) Solar power: Acceleration of the Solar Power Plan in France: acquisition on 1 April 2019 of LUXEL Group, which holds a 1GWp portfolio (of which ~90MWp in operation) Acquisition in China of a majority stake in a 77MWp rooftop photovoltaic assets portfolio Award of a 20-year electricity purchase contract for a 60MWp solar plant near Athens Offshore China: agreements to build and operate two 500MW offshore wind farms with Chinese electricity company China Energy Investment Corporation (CEI) Innovation at the service of customers Launch of Hynamics, a subsidiary to produce and market low-carbon hydrogen for: industrial clients: installation, operation and maintenance of hydrogen production plants public and professional mobility providers: service stations to provide hydrogen to recharge fleets of commercial vehicles New nuclear Taishan 2: end of fuel loading on 16 April 2019 Financial structure  Agreement to sell EDF's 25% stake in Alpiq Signing of a €300 million sustainable revolving credit facility indexed on ESG criteria    
    Operational data    
  Electricity generation 
Nuclear France   111.8TWh
Nuclear United Kingdom   12.6TWh
Group Renewables   15.7TWh
  of which Hydropower France ([2])   9.9TWh







2019 targets ([3])
IFRS 16 impact
EBITDA ([4])   €16.0 - 16.7bn Reduction in operating expenses ([5])  ~ €1.1 bn vs. 2015 Cash flow ([6]) excluding HPC and Linky  >€600m  
2019-2020 ambitions (3)
IFRS 16 impact
Total net investments ([7]) excluding acquisitions and "Group 2019-2020 disposals"     ~ €15 bn/year Group 2019-2020 disposals  €2 to 3bn Net financial debt/EBITDA (4)  <= 2.7x Dividend: target payout ratio of Net income excluding non-recurring items ([8])  45 - 50%    With the French State committed to scrip for the balance of the 2018 dividend and dividends relating to 2019 and 2020 full year  

Change in EDF group sales

(in millions of Euros) Q1 2018 Q1 2019 % % organic
France - Generation and supply activities 7,956 8,145 +2.4 +2.2
France - Regulated activities 5,167 5,033 -2.6 -2.6
EDF Renewables 379 417 +10.0 +2.9
Dalkia 1,223 1,323 +8.2 +7.8
Framatome 721 706 -2.1 -4.0
United Kingdom 2,577 2,501 -2.9 -4.2
Italy 2,252 2,372 +5.3 +1.2
Other international 666 795 +19.4 +18.9
Other activities 751 882 +17.4 +18.5
Inter-segment eliminations (1,246) (1,208) -3.0 -3.0
Total Group 20,446 20,966 +2.5 +1.7

The Group's first quarter 2019 sales amounted to nearly €21.0 billion, up organically by 1.7% compared to the first quarter 2018.

This change was mainly driven by the France - Generation and supply activities segment in connection with favourable market conditions, the growth of the Group's energy services activities and strong performance by EDF Trading. Sales were also negatively impacted by activities in the United Kingdom due to the decrease in nuclear output in connection with the extension of plant outages and by the France - Regulated activities due to mild weather.

Change in Group sales ([1]) by segment

France - Generation and supply activities 

(in millions of Euros) Q1 2018 Q1 2019 % organic
Sales 7,956 8,145 +2.2

Sales in France - Generation and supply activities in the first quarter of 2019 amounted to €8.1 billion, up 2.2% in organic terms compared to the first quarter of 2018.

Nuclear output amounted to 111.8TWh, down 1.1TWh compared to the first quarter of 2018, mainly due to a modulation of generation in a context of warmer temperatures and a higher volume of outages.

Hydropower output ([2]) stood at 9.9TWh, down 32.2% (-4.7TWh) compared to the first quarter of 2018 due to less favourable hydrological conditions and to resource optimisation under consideration of the price environment.

The mild temperatures, compared to the first quarter of 2018, led to a 3.7TWh drop in end customer consumption over the quarter. The financial impact was limited to -€11 million compared to the first quarter of 2018, which had been strongly affected by mild weather in January leading to resales on low-priced markets.

The changes of regulated sale tariffs for electricity ([3]) (for the part excluding the delivery component) had a negative impact of around €54 million due to the end of the tariff adjustment, in the absence of the tariff increase originally scheduled for 1 February 2019.

Downstream market conditions ([4]) had a favourable effect of an estimated €331 million thanks to positive price effects correlated in particular to price trends on the wholesale forward markets.

The balance of purchases and sales on the wholesale market, including the energy component to end customers, had a negative impact on sales, estimated at €290 million, due to a lower sales volume.

Sales benefited from a positive spot price effect in January for the resale of the purchase obligations in the amount
of €101 million (neutral effect on EBITDA as the CSPE mechanism offsets expenses linked to purchase obligations).

France - Regulated activities ([5])

(in millions of Euros) Q1 2018 Q1 2019 % organic
Sales 5,167 5,033 -2.6

Sales in the France - Regulated activities segment in the first quarter 2019 amounted to €5.0 billion, down 2.6% in organic terms compared to the first quarter 2018.

The drop in volumes delivered in connection with mild weather, particularly in March, had an estimated negative impact of €170 million compared to the first quarter of 2018.

Sales benefited from the positive move in distribution tariffs ([6]) for an estimated €19 million.

Moreover, price effects linked in particular to changes in the portfolio structure had an estimated favourable impact
of €17 million.

Renewable Energies

EDF Renewables

(in millions of Euros) Q1 2018 Q1 2019 % organic
Sales 379 417 +2.9

Sales for EDF Renewables amounted to €417 million, up 2.9% in organic terms compared to the first quarter of 2018.

This trend was driven by more favourable price effects and wind conditions, while the volumes produced were generally stable (4TWh or -0.1TWh compared to the first quarter of 2018) due to the disposals made at the end of 2018 and the beginning of 2019.

Total installed net capacity was broadly stable compared to the end of December 2018 and stood at 8.3GW.

On the other hand, the gross portfolio of projects under construction stood at a record level of 3.5GW gross (including 1.4GW in solar) at the end of the first quarter of 2019, i.e. +1.1GW compared to the end of December 2018.

Group Renewables ([7])

(in millions of Euros) Q1 2018 Q1 2019 % % organic
Sales ([8]) 1,307 1,252 -4 -5

Sales for all Group Renewables activities amounted to €1.3 billion in the first quarter of 2019, down 5% from the first quarter of 2018 mainly due to lower hydropower generation in France, partially offset by the positive price effects of the commissioned wind power capacity.

Energy Services


(in millions of Euros) Q1 2018 Q1 2019 % organic
Sales 1,223 1,323 +7.8

Dalkia's sales amounted to €1.3 billion, up 7.8% in organic terms compared to the first quarter of 2018.

This improvement reflects the favourable trends in service contracts review indexes, the rise in fuel prices and sales development. The commercial dynamic continued with the creation of a new district heating network in
Charleville-Mézières in collaboration with the foundries of a PSA plant.

Group Energy Services ([9])

(in millions of Euros) Q1 2018 Q1 2019 % % organic
Sales 1,516 1,689 +11 +8

Sales in Group Energy Services amounted to €1.7 billion, up 8% in organic terms compared to the first quarter of 2018. They benefited in particular from the organic growth of Dalkia and Imtech.

The acquisition of Zephyro, an Italian operator active in the energy efficiency sector and in the supply of integrated energy management solutions, contributed to the development of energy services.


(in millions of Euros) Q1 2018 Q1 2019 % organic
Sales  721 706 -4.0

Framatome's sales amounted to €0.7 billion in the first quarter of 2019, down 4.0% organically.

This change is mainly due to timing effects on the first quarter of 2019 related to the year-on-year distribution of fuel assembly deliveries.

On the "large projects business", sales experienced a drop in activity with Taishan, whereas Hinkley Point C is ramping up its activities.

The "Installed base business" was down slightly in comparison with its strong performance in the first quarter of 2018 in France.

United Kingdom 

(in millions of Euros) Q1 2018 Q1 2019 % organic
Sales 2,577 2,501 -4.2

In the United Kingdom, sales of €2.5 billion were down by 4.2% in organic terms compared to the first quarter 2018.

The decrease in sales was mainly due to the decline in nuclear generation and to a lesser extent to the suspension of the capacity market and the SVT (Standard Variable Tariff) price cap.

Nuclear output amounted to 12.6TWh, down 2.5TWh from the first quarter of 2018 due to the Hunterston B inspection and to the extension of Dungeness B outage.

Supply activity benefited from the good resilience of the residential customer portfolio, which is stabilising in a still very competitive environment, and from increasing sales volumes in the business customer segment.


(in millions of Euros) Q1 2018 Q1 2019 % organic
Sales 2,252 2,372 +1.2

In Italy, sales amounted to €2.4 billion, up 1.2% in organic terms compared to the first quarter 2018.

Sales from the electricity business (+€122 million in organic terms) grew thanks to higher sales volumes in the industrial customers segment and positive price effects.

In gas activities, sales were down (-€109 million in organic terms) due to a decrease in volumes sold on wholesale markets which was partially offset by an increase in volumes sold to industrial customers and a positive price effect.

Exploration-production activity was up (+€15 million in organic terms) in connection with the positive Brent price effect in Euros.

Other international

(in millions of Euros) Q1 2018 Q1 2019 % organic
Sales 666 795 +18.9

Sales in Other international amounted to nearly €0.8 billion, up 18.9% in organic terms compared to the first quarter of 2018.

In Belgium, sales increased by €59 million organically, reflecting in particular a rise in electricity and gas prices across all segments, partially offset by a slight decrease in volumes sold to residential customers due to mild weather. Wind capacity increased to 448MW, or +1.6% compared to the end of December 2018.

In Brazil, sales increased by €57 million in organic terms due to the positive effect of the annual review of EDF Norte Fluminense's power purchase agreement tariff that occurred at the end of 2018 and due to the impact of the change (without impact on EBITDA) of the ICMS([10]) tax.

Other activities 

(in millions of Euros) Q1 2018 Q1 2019 % organic
Sales 751 882 +18.5

Sales in Other activities amounted to nearly €0.9 billion, up 18.5% in organic terms compared to the first quarter of 2018.

Sales at EDF Trading were up €48 million organically. EDT Trading continues to benefit from positive volatility and took advantage of price conditions in European electricity and gas markets. The activities related to LNG (Liquefied Natural Gas) and LPG (Liquefied Petroleum Gas) also contributed to this performance in the first quarter of 2019.

Sales in the gas business increased by more than €176 million in organic terms in a favourable context for the LNG activity and in relation to better use of the Group's capacities.

Main events ([11]) since the press release of 15 February 2019

Major Events

  • Flamanville EPR update: a detailed update of the schedule and construction cost of the Flamanville EPR will be given after the ASN ruling has been published (see press release of 11 April 2019).
  • EDF, EBM and EOS agreed on the disposal by EDF of its 25% stake in Alpiq to EBM and EOS (see press release of 5 April 2019).
  • Notice of the Combined Shareholders Meeting on 16 May 2019 and appointments to EDF's Board of Directors (see press release of 5 April 2019).
  • EDF launched Hynamics, a subsidiary to produce and market low-carbon hydrogen (see press release of
    2 April 2019).
  • EDF and BBVA signed a €300 million sustainable revolving credit facility (see press release of 22 march 2019).

New investments, partnerships and investment projects

Development of renewable energies, EDF Renewables ([12])

  • EDF Renewables secured a 20-year Power Purchase Agreement following auctions in Greece for a future 60 MWp solar plant located near Athens (see press release of 6 May 2019).
  • EDF Renewables and WiSEED launched a participatory financing for the Toucan 2 solar power project with storage in Guyana (see press release of 6 May 2019).
  • Eolien Maritime France selected Siemens Gamesa Renewable Energy to provide turbines for two French offshore wind energy projects (see press release of 16 April 2019).
  • EDF Renewables completed the acquisition of LUXEL Group, a French utility that develops and operates solar projects (see press release of 1 April 2019).
  • EDF boosted its activities in China with agreements to build and operate two offshore wind farms and to optimize heating and air-conditioning networks in the city of Wuhan (see press release of 25 March 2019).
  • EDF Renewables strengthened its presence in distributed solar power in China with its partner Asia Clean Capital (see press release of 21 March 2019).
  • EDF Renewables pursues its expansion in wind and solar energy in the United States (see press release of 12 March 2019).

Framatome ([13])

  • United States: Framatome won a multimillion-dollar contract to perform cutting-edge maintenance operations at Wolf Creek (see press release of 20 February 2019).

Other significant events

  • The EDF group and Logis Cévenols inaugurated the largest collective self-consumption operation in France (see press release of 7 May 2019).
  • Tomorrow's Connected Community: BBOXX unveiled its vision for the "community of the future" for the developing world (see press release of 24 April 2019).
  • EDF Group launched the 2019 employee reserved offer "ERO 2019" (see press release of 17 April 2019).
  • The EDF group and METRO France signed a new contract for the supply of wind energy (see press release of 25 March 2019).
  • EDF welcomed the fact that consumers' interests were defended against unfair competition practices (see press release of 14 March 2019).

A key player in energy transition, the EDF Group is an integrated electricity company, active in all areas of the business: generation, transmission, distribution, energy supply and trading, energy services. A global leader in low-carbon energies, the Group has developed a diversified generation mix based on nuclear power, hydropower, new renewable energies and thermal energy. The Group is involved in supplying energy and services to approximately 39.8 million customers (1), 29.7 million of which are in France. It generated consolidated sales of €69 billion in 2018. EDF is listed on the Paris Stock Exchange.

  1. The customers were counted at the end of 2018 per delivery site; a customer can have two delivery points: one for electricity and another for gas.


This presentation does not constitute an offer to sell securities in the United States or any other jurisdiction.
No reliance should be placed on the accuracy, completeness or correctness of the information or opinions contained in this presentation, and none of EDF representatives shall bear any liability for any loss arising from any use of this presentation or its contents. The quarterly financial information is not subject to an auditor's report. 
The present document may contain forward-looking statements and targets concerning the Group's strategy, financial position or results. EDF considers that these forward-looking statements and targets are based on reasonable assumptions as of the present document publication, which can be however inaccurate and are subject to numerous risks and uncertainties. There is no assurance that expected events will occur and that expected results will actually be achieved. Important factors that could cause actual results, performance or achievements of the Group to differ materially from those contemplated in this document include in particular the successful implementation of EDF strategic, financial and operational initiatives based on its current business model as an integrated operator, changes in the competitive and regulatory framework of the energy markets, as well as risk and uncertainties relating to the Group's activities, its international scope, the climatic environment, the volatility of raw materials prices and currency exchange rates, technological changes, and changes in the economy.
Detailed information regarding these uncertainties and potential risks are available in the reference document (Document de référence) of EDF filed with the Autorité des marchés financiers on 15 March 2019, which is available on the AMF's website at www.amf-france.org and on EDF's website at www.edf.fr.
EDF does not undertake nor does it have any obligation to update forward-look

This press release is certified. You can check that it's genuine at medias.edf.com

Only print what you need.

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Press: +33 (0) 1 40 42 46 37


Analysts and investors: +33 (0) 1 40 42 40 38

([1]) Breakdown of sales across the segments, before inter-segment eliminations.

([2]) Hydropower, excluding island activities before deduction of pumped volumes. For information, after deduction of pumped-storage hydropower volumes: 12.8TWh in Q1 2018 and 8.3TWh in Q1 2019.

([3]) Price effects on customers at regulated sales tariffs, excluding the Energy Savings Certificates (EEC) component in the tariff "stacking". Change in tariffs on 1 August 2018 of -0.5% for blue residential and +1.1% for non-residential.

([4]) Excluding the EEC component in the market offering.

([5]) Regulated activities including Enedis, Électricité de Strasbourg and island activities.

([6]) Upward adjustment of the tariffs of the low voltage customers domain <= 36kVA of 1.16% and indexation of TURPE 5 distribution of -0.21% at 1 August 2018.

([7]) Group Renewables includes EDF Renewables and the Group hydraulic generation, as well as the renewable activities of EDF Luminus and Edison.

([8]) For the renewable energy generation optimized within a larger portfolio of generation assets, in particular relating to the French hydro fleet after deduction of pumped volumes, sales are estimated, by convention, as the valuation of the output generated at spot market prices (or at purchase obligation tariff) without taking into account hedging effects, and include the valuation of the capacity, if applicable.

([9]) Group Energy Services include Dalkia, Citelum, CHAM and service activities of EDF Energy, Edison, EDF Luminus and EDF SA. They consist in particular of street lighting, heating networks, decentralised low-carbon generation based on local resources, energy consumption management and electric mobility.

([10]) Tax on the Movement of Goods and Services in Brazil

([11]) The complete list of press releases is available on the EDF website: www.edf.fr

([12]) The complete list of EDF Renewables' press releases is available on the website www.edf-renouvelables.com

([13]) The complete list of Framatome press releases is available on the website: www.framatome.com

Footnotes to the first page

([1]) Organic change at comparable scope and exchange rates.

([2]) Hydropower, excluding island activities before deduction of pumped volumes. For information, after deduction of pumped-storage hydropower volumes: 12.8TWh in Q1 2018 and 8.3TWh in Q1 2019.

([3]) At constant legal and regulatory framework in France.

([4]) On the basis of the scope and exchange rates at 1 January 2019 and of an assumption of a 395TWh France nuclear output. At prevailing price conditions beginning of February 2019 (around €50/MWh) for the unhedged 2020 France volumes.

([5]) Sum of personnel expenses and other external expenses. At comparable scope and exchange rates. At constant pension discount rates. Excluding change in operating expenses of the service activities.

([6]) The impact of IFRS 16 on cash-flow is derived from the increase in EBITDA, decreased by financial interests on the IFRS 16 net financial debt

([7]) In accordance with the Group's anticipations regarding the Flamanville 3 project completion costs and schedule. A detailed update of the schedule and construction cost of the Flamanville EPR will be given after the ASN ruling has been published.

([8]) Adjusted for the remuneration of hybrid bonds accounted for in equity.

Read more: EDF :Quarterly Financial Information at 31 March...

| Source: Consolidated Edison Company Of NY

NEW YORK, May 23, 2019 (GLOBE NEWSWIRE) -- Con Edison is forecasting lower bills for residential customers during this summer season, compared to last year, as the energy company invests more than $1.5 billion in its overhead and underground electric delivery systems to meet usage demands on peak hot days.

A typical New York City residential customer using 350 kilowatt hours per month can expect a 6.5-percent decrease from $102.84 in 2018 to $96.20 in the June-to-September period. A typical Westchester residential customer using 500 kilowatt hours per month can expect an average decrease of 16.2 percent from $134.68 in 2018 to $112.88.  

The projected decrease in residential bills is largely due to lower supply costs. Con Edison buys electricity on the wholesale market and provides it to customers at cost. 

Monthly bills for business customers are expected to be about the same as last year. A New York City business customer using 10,800 kilowatt hours with a peak demand of 31 kilowatts can expect average monthly summer bills to increase slightly from $2,156.55 in 2018 to $2,201.92 this year.

Innovation & Investments

The company is also expanding new and evolving technologies such as battery storage. In separate projects, batteries are in place in Westchester, the Bronx and Queens to support the grid on sweltering summer days.

“We strive to lead the transition to the clean energy future that our customers want and that new technology makes possible,” said Tim Cawley, president of Con Edison. “In addition to developing battery storage and installing smart meters, we’re making it easier for our customers to choose energy efficiency, solar and other products and services that can help reduce monthly bills and provide a cleaner environment.”

In a Con Edison pilot project, five White Plains electric school buses, normally idle during the summer months, will have their batteries fully charged and on standby to provide 75 kilowatts to the electric grid on peak hot days.

Con Edison has installed a 10.6-megawatt hour (MWh) battery system on company property in Ozone Park, Queens. Con Edison will charge the batteries when demand for power is low and then discharge that power at peak times, taking pressure off the grid. On City Island, Con Edison has installed a 1-MWh battery system that will provide power to the grid as needed.

Other investments focus on upgrades and reinforcements, including 27 network transformers and 58 overhead transformers. The company also plans to upgrade 61 underground feeder sections and 262 overhead spans. For video footage of infrastructure work, click here.

Con Edison projects that peak demand for electricity this summer will reach 13,270 megawatts. The all-time record is 13,322 megawatts, which occurred at 5 p.m. on July 19, 2013.

The company is always exploring new ways to keep service reliable. Con Edison has installed 4,000 remote monitoring devices in manholes to detect heat and gas in underground structures. By detecting heat and gas, the company can help identify needed repairs before electrical equipment fails. Con Edison also takes infrared images of underground cables to look for hot spots that might indicate a repair is needed.

Save More with Energy Efficiency Upgrades

Customers can save money by using less energy. Con Edison offers customers incentives to make money-saving upgrades to their homes and businesses. For this summer, Con Edison is offering residential customers:

  • A $25 rebate for buying a new Energy Star room air conditioner;
  • $25 or more in rewards for enrolling a standard window air conditioner in the company’s Smart AC program;
  • Up to $90 in rebates and rewards for a Wi-Fi-enabled AC. The company will provide a free Wi-Fi device that lets a customer control a room air conditioner through an app;
  • A $50 rebate for buying a smart thermostat and another $85 for registering it with Con Edison.

Since 2009, Con Edison’s energy efficiency programs have helped about 650,000 customers make upgrades preventing 5 million tons of carbon emissions.  That’s the equivalent of taking more than 1 million cars off the road.

As of 2018, the electric upgrades save nearly 2 million MWh of usage a year.  The electric upgrades have saved 7.8 million MWh since 2009.

The company also encourages customers to consider whether solar energy is right for them. Customers have completed nearly 26,000 projects that produce about 248 megawatts of clean, renewable power. That is equal to 325,500 MWh a year, enough to prevent more than 230,000 tons of carbon emissions, or the equivalent of taking 49,000 cars off the road.

The customers who have chosen energy efficiency and solar help Con Edison keep service reliable by lowering the amount of power flowing on the grid at peak times.

Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation’s largest investor-owned energy companies, with approximately $12 billion in annual revenues and $55 billion in assets. The utility delivers electricity, natural gas and steam to 3.5 million customers in New York City and Westchester County, N.Y. For financial, operations and customer service information, visit www.conEd.com. For energy efficiency information, visit coned.com/energyefficiency.


Facebook: https://www.facebook.com/ConEdison
Twitter: https://twitter.com/conedison
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Contact: Media Relations

Read more: Con Edison Forecasts Lower Summer Bills;...


This paper examines the growth effects of different dimensions of international trade integration -- notably, volume, diversification, and natural resource dependence -- in Sub-Saharan Africa. First, the paper documents the recent trends in these foreign trade dimensions for the region and the traditional sources of growth. Second, it empirically estimates the impact of trade integration on growth per worker and the sources of growth; that is, growth of capital per worker and total factor productivity growth. To accomplish this task, the analysis uses a sample of non-overlapping five-year period observations for 173 countries from 1975 to 2014. The econometric evidence shows that increased trade openness, greater export production diversification, and reduced export dependence from natural resources will have a positive causal impact on economic growth. These effects will be mainly transmitted through faster capital accumulation or enhanced total factor productivity growth. Finally, the paper finds that, despite the progress exhibited in trade openness and diversification over the past decade, there are still potential benefits that can be accrued if countries were to deepen their integration to world trade.
Read more: Trade Integration and Growth...


The Philippines power sector underwent a substantial and largely complete reform process. Following a severe shortage of supply in the late 1980s and the Asian Financial crisis of 1997, which made the dollar-denominated debt of the National Power Corporation... See More + The Philippines power sector underwent a substantial and largely complete reform process. Following a severe shortage of supply in the late 1980s and the Asian Financial crisis of 1997, which made the dollar-denominated debt of the National Power Corporation extremely burdensome, the Electric Power Industry Reform Act was passed in 2001. This was intended to improve the quality of service and reduce power tariffs via the introduction of private participation and competition at the wholesale and retail levels. Although the implementation of the full reform program took longer than originally expected, the unwavering support given to the reform agenda by successive presidents of the country ensured that the planned steps had all been completed by 2013. At that time, retail competition and open access for consumers in Luzon and Visayas of more than one megawatt were introduced. The reform process was not impeded by complications that would have arisen if consumer subsidies had been endemic, but retail prices are even higher than might have been expected in the absence of subsidies, due to domestic taxation and the presence of some inefficiencies that have not yet been eliminated by the onset of competition.  See Less -

Read more: Learning from Power Sector Reform...

| Source: Ciel & Terre


Ciel et Terre Floating Solar Power Frame
Windsor_CT Float

Windsor, Calif., will have the largest floating solar system in the state built using Ciel et Terre's "floatovoltaic" solar racking system

Ciel & Terre

WINDSOR, Calif., May 23, 2019 (GLOBE NEWSWIRE) -- Ciel & Terre USA (www.ciel-et-terre.net), innovators in floating solar power systems, and the Town of Windsor officials have started construction of what will be the largest floating solar power system in the state of California. The floating solar array will be installed on the Town’s largest recycled water storage pond and is expected to meet 90 percent of the Town’s water treatment and pump facilities’ energy needs.

The Ciel et Terre solar installation will consist of 4,959 (360W) high-output solar panels mounted atop the company’s patented Hydrelio floating solar racking system. The 1.78 megawatt system will generate power for the Windsor Wastewater Reclamation Facility, Public Works Corporation Yard, and the Geysers pump station, delivering approximately 90 percent of the water reclamation facilities’ power requirements while saving about 30 percent of the electricity cost based on the facilities’ existing grid service. The array will be floated in the pond and tethered to the shore, making it resistant to wind and seismic loads.

The project is being developed and construction financed by Ciel et Terre, which has entered into a 25-year lease and power purchase agreement (PPA) with the Town of Windsor to provide discounted clean energy. The floating solar system will allow Windsor to better control its electrical costs in the face of rising utility prices.

“By entering into a PPA, the Town can substantially reduce its energy overhead without any investment,” said Eva Pauly-Bowles, Representative Director for Ciel & Terre USA, Inc. “Floating solar is becoming an attractive energy alternative for municipalities seeking to reduce operating costs and preserve valuable land for other developments.”

“Our water reclamation and corporation yard facilities currently account for 40 percent of the Town’s greenhouse gas emissions,” said Toni Bertolero, Town of Windsor Public Works Director. “Installation of this new floating solar array will reduce our reliance on energy-polluting sources by an estimated 350 metric tons of CO2 per year, a significant step to achieve our Climate Action Plan emission reduction goals.”

The floating solar project will cover only 22 percent of the available water surface area of the pond. It will have no impact on the biology of the pond and will reduce water loss from evaporation and inhibit algae growth. The state-of-the-art floating solar design can be expanded for extra capacity and will not affect plant operations while it is being installed.

Ciel & Terre is partnering with local union contractor, Collins Electrical Company, for installation. “Installing a Ciel et Terre floating solar system is like assembling a giant Lego structure. The floating frame snaps together and most of the assembly is done on shore so it is safe and relatively easy,” said Craig Gini, Vice President and Renewables General Manager for Collins Electrical Company Inc. “Floating solar is an excellent alternative to conventional solar arrays and it’s simpler and faster to install. We expect more of our California customers will be installing floating solar systems in the coming months.”

Using manmade bodies of water to host floating solar systems provides more efficient energy production due to its cooling effect on the system, while eliminating the need to use expensive real estate. The floating array also reduces water movement to minimize erosion and reduce evaporation.

The National Renewable Energy Lab (NREL) estimates that floating solar systems could meet 10 percent of the United States electricity needs.

About Ciel & Terre
Established in 2006 as a renewable Independent Power Producer (IPP), Ciel & Terre has been fully devoted to floating solar PV since 2011. The French company pioneered Hydrelio®, the first specific and industrialized system to make solar panels float on water, with criteria such as cost-effectiveness, safety, longevity, resistance to winds and waves, simplicity, drinking water compliance, and optimized electrical yield.

Ciel & Terre has floating solar installations in Japan, Korea, China, UK, France, Germany, Netherland, Portugal, Brazil, Chile, Columbia, Panama, Singapore, Malaysia, Cambodia, Italy, Taiwan as well as the United States. The company has its United States headquarters in Petaluma, California.

For more information, visit www.ciel-et-terre.net.

Ciel & Terre Media Contact:
Tom Woolf
Woolf Media & Marketing
This email address is being protected from spambots. You need JavaScript enabled to view it.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fd8e42e8-4403-48f8-b847-a95ff2cc2723

Read more: Ciel & Terre Starts Construction on California’s...

| Source: Terrestrial Energy Inc.

OAKVILLE, Ontario, May 15, 2019 (GLOBE NEWSWIRE) -- Terrestrial Energy today announced the addition of Ontario Power Generation to its Nuclear Innovation Working Group. The working group is advising Terrestrial Energy during Phase 2 of its Vendor Design Review program, which is currently in progress, and on the development and deployment of its Integral Molten Salt Reactor (IMSR) power plant. The group consists of many leading members of the Canadian and international nuclear supply chain and industry.

The expanded group now consists of the following companies and their representatives:

  • Ontario Power Generation, Dominique Minière, President of Nuclear
  • Bruce Power, Michael Rencheck, President and CEO
  • Burns & McDonnell, Glenn Neises, Nuclear Director
  • SNC-Lavalin, EVP and Candu Energy, President and CEO, William (Bill) A. Fox III
  • Corporate Risk Associates Limited, Jasbir Sidhu, CEO
  • Kinectrics, David Harris, President and CEO
  • Laker Energy Products, Christopher Hughes, President and CEO
  • Promation, Mark Zimny, President and CEO
  • Sargent & Lundy, Michael J. Knaszak, Senior Vice President and Project Director

“We are pleased to welcome Dominique Minière and Ontario Power Generation to the Nuclear Innovation Working Group. Ontario Power Generation has decades of experience of safe and efficient nuclear power plant operation. It is an industry pioneer and is focused today on the future of nuclear power provision,” said Simon Irish, CEO of Terrestrial Energy. “Their expertise brings market-proven capabilities to our engineering, regulatory and testing programs.”

“OPG is looking to the future of nuclear generation including the transformative capabilities of Generation IV reactor systems, designed to provide reliable, carbon-free electricity,” said Dominique Minière, President of Nuclear at OPG. “We are pleased to be working with Terrestrial Energy, an industry leader in Generation IV technology, to share our experience and expertise with engineering and regulatory programs, as they work towards bringing the company’s IMSR power plant technology to Canadian markets.”

About OPG

Ontario Power Generation (OPG) operates a diversified generation portfolio with an installed capacity of 16,295 MW, comprised of nuclear, hydroelectric, thermal, and solar power. Through our facilities, OPG generates clean, reliable and low-cost energy, delivering about 50 per cent of Ontario’s electricity. More than 90 per cent of this power is free of smog and carbon emissions.

About Terrestrial Energy

Terrestrial Energy is a developer of Generation IV advanced nuclear power plants that use its proprietary Integral Molten Salt Reactor (IMSR) technology. IMSR technology represents true innovation in cost reduction, versatility and functionality of nuclear power plants. IMSR power plants will provide zero-carbon, reliable, dispatchable, cost-competitive electric power and high grade industrial heat for use in many industrial applications, such as chemical synthesis and desalination, and in so doing extend the application of nuclear energy far beyond electric power markets. They have the potential to make important contributions to industrial competitiveness, energy security, and economic growth. Their deployment will support rapid global decarbonization of the primary energy system by displacing fossil fuel combustion across a broad spectrum. Using an innovative design, and proven and demonstrated molten salt reactor technology, Terrestrial Energy is engaged with regulators and industrial partners to complete IMSR engineering and to commission first IMSR power plants in the late 2020s.

Jarret Adams
Terrestrial Energy
Phone: (202) 815-9234
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Brian Smith
Terrestrial Energy
Phone: (416) 822-3130
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Website: www.terrestrialenergy.com
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Social Media
Facebook:        TerrestrialMSR
Twitter:             TerrestrialMSR
YouTube:          Terrestrial Energy
LinkedIn:          TerrestrialEnergy

Read more: Ontario Power Generation joins Terrestrial...

| Source: Scatec Solar ASA

Scatec Solar and partners have grid connected its second solar power plant in Malaysia, the 65 MW (DC) Jasin plant. This plant is the second of three 65 MW solar plants under completion by Scatec Solar in Malaysia.

“We are pleased to have reach commercial operation for the Jasin solar plant, doubling our assets in operation to 130 MW in Malaysia. South East Asia continues to be a key market for us, and we expect that the Government of Malaysia will maintain high ambitions for the deployment of renewable energy in the country”, says Raymond Carlsen, CEO of Scatec Solar.

The plant, located in the south-west of Peninsular Malaysia is expected to provide about 94,000 MWh of electricity per year, providing energy for more than 31,000 households. The clean energy produced by the Jasin plant will contribute to avoid about 70,000 tonnes of carbon emissions per year.

In December 2016, Scatec Solar entered the Malaysian large-scale solar energy market by joining forces with a local ITRAMAS-led consortium that had signed three 21-year Power Purchase Agreements (PPAs) with the country's largest electricity utility, Tenaga Nasional Berhad (TNB). The partnership covers realisation of three solar plants totaling 197 MW with a total investment of about MYR 1,235 million (USD 293 million).

With grid connection of this power plant, Scatec Solar currently has 714 MW in operation and another 941 MW under construction.

For further information, please contact: 

Mikkel Tørud, CFO
Mobile: +47 976 99 144
This email address is being protected from spambots. You need JavaScript enabled to view it.

About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. A long- term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants and has an installation track record of more than 1 GW. The company has a total of 1.7 GW in operation and under construction in Argentina, Brazil, the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South Africa and Ukraine.

With an established global presence and a significant project pipeline, the company is targeting a capacity of 3.5 GW in operation and under construction by end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SSO’. To learn more, visit www.scatecsolar.com.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Read more: Scatec Solar has reached commercial operation...

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