Latest news with #EDF
Reuters
17 hours ago
- Business
- Reuters
Safran picks France for aerospace factory coveted by US, Canada
PARIS, July 31 (Reuters) - French aerospace group Safran ( opens new tab has picked France as the location for a $500 million carbon brakes factory, beating rival bids from sites in the U.S. and Canada in a domestic investment buoyed by a shake-up at power giant EDF. Partially state-owned Safran, which builds jet engines and competes with RTX (RTX.N), opens new tab unit Collins Aerospace to sell other equipment like brakes and landing gear, said the 30,000 square metre (323,000 sq ft) facility near Lyon would cost over 450 million euros ($514.4 million) and start running in 2030. Thursday's announcement, alongside higher mid-year earnings, came after Reuters exclusively reported that Safran was poised to select France for the expansion following a politically sensitive contest overshadowed by concerns over energy supplies. The contest has been closely scrutinised in France, where President Emmanuel Macron has made regenerating local industry a key political priority at a time when U.S. President Donald Trump is pressing Europe to invest more in the United States. Macron hailed the decision to pick Ain, southeastern France, as an act of "sovereignty and re-industrialisation." Safran pioneered the use of carbon brakes for jetliners and Formula 1 racing cars and says they are lighter and more durable than steel. But they consume large amounts of energy to make, so Safran had been pressing for secure supplies of clean energy. Under discussion for five years, the decision had become increasingly swept up in energy and international politics, as well as the fallout from management changes at state utility EDF. Earlier plans to base the site in Lyon, France's third-largest city, had been scrapped, first due to the COVID-19 pandemic in 2020, and then a sharp rise in energy prices following Russia's invasion of Ukraine in 2022. Safran CEO Olivier Andries, who had outlined a set of conditions including affordable long-term energy supplies and political and economic stability, denied any link with recent tariff wars and put the spotlight on EDF's new boss. "It was a purely objective decision," he told reporters, adding that a recent management shake-up at EDF had "altered the dynamics" of the negotiation for the better. EDF said it welcomed the decision. EDF's new CEO Bernard Fontana has pledged to focus on domestic projects after his predecessor Luc Remont was fired earlier this year following complaints by French industries over his rigidity on long-term contract negotiations. Fontana told parliament in April that EDF would deliver competitive prices via "all available margins of flexibility." Quebec was the leading candidate outside France due to its ample hydroelectric supplies and Oregon was also considered before failing to reach the final cut, industry sources said. The new site at the Plaine de l'Ain industrial park is designed to allow Safran to increase output by 25% up to 2037 by complementing existing sites in France, Kentucky and Malaysia. ($1 = 0.8747 euros)
LeMonde
2 days ago
- Business
- LeMonde
How France's far right is betting on cryptocurrencies
Cryptocurrencies emerged in the French public debate less than a decade ago. That has been enough time for the far-right Rassemblement National (RN) party to adopt, as on many other issues, the most contradictory positions. In 2016, Marine Le Pen promised to ban virtual currencies (including bitcoin), which she claimed were promoted by an alliance of the "ruling elite" and the "powerful Wall Street investment banking lobby." In 2022, Le Pen sought to "regulate" them. In 2025, Le Pen is now proposing to produce them. During a visit to the Flamanville nuclear power plant in Normandy on March 11, the three-time presidential candidate expressed her support for using surplus electricity generated by reactors to "mine" bitcoin. The plan would involve installing powerful computers at the sites of French energy giant EDF to perform complex calculations, which, repeated numerous times, would contribute to the secure digital chain, or blockchain, behind the technology, in exchange for payment in newly created bitcoins (currently trading at over €100,000). "It is a secure and extremely profitable solution," said RN lawmaker Aurélien Lopez-Liguori, who was tasked in July with drafting the idea into a bill. "Our logic is the opposite of the Greens. For them, the most environmentally friendly energy is that which is not produced; for us, it is the energy that is not wasted."
Daily Mirror
2 days ago
- Politics
- Daily Mirror
Millions of UK homes still powered by Russian imports after Ukraine invasion
Critics are calling for action amid fears that UK imports could be used to fund President Vladimir Putin's war in Ukraine - Sizewell B in Suffolk is still using Russian uranium Millions of UK homes are still being supplied with electricity from a nuclear power station fuelled by Russian imports. The Mirror can reveal that Sizewell B in Suffolk continues to use imported uranium from Russia - three years after President Vladimir Putin 's deadly invasion of Ukraine. It comes despite French owner EDF previously indicating it would switch to an alternative source. The company has admitted it could take another three years to end its use of Russian uranium. The discovery comes as the UK government has thrown its weight behind nuclear to help power the UK in the future, partly in an effort to reduce the country's reliance on imports in the wake of Russia's war, which has led to household energy bills soaring. Last week saw the go-ahead given for Sizewell C, a new £38billion nuclear plant that will sit alongside the existing station on the Suffolk coast. Lib Dem defence spokesperson Helen Maguire, said: 'It is incredibly concerning that EDF is still using Russian uranium, despite indicating that they were going to look for an alternative source. Three years on from Putin's full-scale invasion of Ukraine, this is simply unacceptable. 'The Government should do everything in its power to ensure that no UK company is using uranium, liquefied natural gas or any other resources from Russia - and they should also urgently look to address the use of Russian uranium at Sizewell B. The UK must close every possible avenue that could be used to fund Putin's imperialism.' Dr David Lowry, a former member of the independent advisory panel for the Chief UK Nuclear Safety and Security Inspector and a nuclear policy consultant, said: 'It is sheer hypocrisy for energy ministers to say we need new nuclear to stop being dependent on imported Russian energy, when our biggest and newest nuclear plant is fully fuelled by Putin's uranium.' Sizewell B is the UK's newest existing nuclear power station, despite having been completed 30 years ago. It has an operating pressurised water reactor, capable of supplying 2.5 million homes, or around 3% of the UK's entire electricity needs. The plant uses enriched reprocessed uranium sourced from Russia by EDF's fuel supplier Framatome. Sources say Sizewell B is unique in the UK and that Russia is home to the only facility in the world which can prepare the required material. EDF says it has the potential to generate for at least a further 20 years beyond its current end of generation date of 2035. Alison Downes, from the Stop Sizewell C campaign group, claimed the limited sources for uranium called into question the rationale for backing nuclear. "It is a major stumbling block," she said. Estimates vary on how much money Russia is raking from uranium exports. The Royal United Services Institute has pointed to a range of sources showing $2.7billion (£2billion) of enriched uranium imports from Russia in 2023. An EDF spokesperson said: 'EDF remains in full compliance with all sanctions placed by the EU, UK and French Governments, regarding business with Russia. We have removed Russian input to the nuclear fuel supply chain for all UK plants except Sizewell B, due to long term commitments struck years before Russia invaded Ukraine. 'The fuel assemblies we load into our reactor come from our fuel supplier, Framatome, from a facility in western Europe, and the aim is to remove all Russian involvement from Sizewell B's fuel supply chain by 2028. EDF continues to work closely with UK companies, and the government, to create facilities which will be central to the future of the UK and Europe's long term energy infrastructure.' The Department for Energy Security and Net Zero said: 'While the procurement of nuclear fuel, including uranium and enrichment services, is a commercial matter for operators, we have committed to prevent the import of nuclear fuels from Russia by 2030.'
Yahoo
4 days ago
- Business
- Yahoo
EDF power solutions North America Names Amy Lloyd as Chief Financial Officer
SAN DIEGO, July 28, 2025--(BUSINESS WIRE)--EDF power solutions North America is pleased to announce the appointment of Amy Lloyd as Chief Financial Officer (CFO). With an exceptional background in finance, investment, and infrastructure, Amy is a valuable addition to the executive team as the company continues its commitment to driving sustainable energy solutions across North America. Amy brings over two decades of experience in key leadership roles at global organizations, including Barclays, Citigroup Capital Markets, and ACS Infrastructure Development. Her extensive background encompasses originating and executing large-scale structured projects in infrastructure, energy, and real estate, with a focus on green energy and climate-focused financing. Notably, she has been instrumental in advising, lending, and raising over $25 billion in private financing for more than 20 large infrastructure projects worldwide. During her tenure at Barclays, and previously Citigroup, Amy excelled as a financial advisor, strategic M&A banker, and underwriter, delivering innovative financing solutions to public and private clients. Her accomplishments include advising on large-scale M&A, capital raises for battery manufacturing, hyperscale and data center financing, solar energy advisory, and financing sustainable materials manufacturers. Prior to joining Barclays, she held the position of Chief Financial Officer & Head of Finance at ACS Infrastructure Development, where she led strategic equity and finance initiatives, deploying over $5 billion in equity and debt capital across the U.S. and Canadian infrastructure markets. "Amy's comprehensive expertise in project finance, M&A, risk management, and asset optimization, combined with her proven leadership in corporate finance, will be invaluable as we continue to expand our low-carbon energy initiatives," said Tristan Grimbert, President and CEO of EDF power solutions North America. "Her innovative approach to financial strategy and commitment to sustainability align perfectly with EDF power solutions' mission to lead the transition to a sustainable energy future. We are excited to welcome her to our team and look forward to her contributions in advancing our mission." Amy holds a Master of Applied Finance from Macquarie University and dual bachelor's degrees in mathematics and politics from the University of Wollongong, Australia. Her global experience across Australia, North America, Europe, the UK, and the Middle East further enhances her ability to navigate complex financial landscapes and foster strategic partnerships. EDF power solutions North America has been providing clean energy solutions throughout the U.S., Canada, and Mexico since 1987. We are a market-leading independent power producer and service provider, serving utilities, corporations, industries, communities, institutions, and investors with reliable, low-carbon energy solutions that help meet growing demand. From developing and building scalable wind (onshore and offshore), solar, storage (battery and pumped storage hydropower), smart EV charging, microgrids, green hydrogen, and transmission projects to maximizing performance and profitability through skilled operations and maintenance and innovative asset optimization, our teams deliver expert solutions along the entire value chain—from origination to commercial operation. Our portfolio consists of 23 gigawatts of developed projects and 16 gigawatts under service contracts. In Canada, the Company has 2.6 GW of wind and solar power facilities in service or under construction. EDF power solutions is an affiliate of the EDF Group, a world leader in power production. For more information visit: Connect with us on LinkedIn, Instagram, and Facebook. View source version on Contacts EDF power solutions North America Sandi Brinermediarelations@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
4 days ago
- Business
- Business Wire
EDF power solutions North America Names Amy Lloyd as Chief Financial Officer
SAN DIEGO--(BUSINESS WIRE)-- EDF power solutions North America is pleased to announce the appointment of Amy Lloyd as Chief Financial Officer (CFO). With an exceptional background in finance, investment, and infrastructure, Amy is a valuable addition to the executive team as the company continues its commitment to driving sustainable energy solutions across North America. Amy brings over two decades of experience in key leadership roles at global organizations, including Barclays, Citigroup Capital Markets, and ACS Infrastructure Development. Her extensive background encompasses originating and executing large-scale structured projects in infrastructure, energy, and real estate, with a focus on green energy and climate-focused financing. Notably, she has been instrumental in advising, lending, and raising over $25 billion in private financing for more than 20 large infrastructure projects worldwide. During her tenure at Barclays, and previously Citigroup, Amy excelled as a financial advisor, strategic M&A banker, and underwriter, delivering innovative financing solutions to public and private clients. Her accomplishments include advising on large-scale M&A, capital raises for battery manufacturing, hyperscale and data center financing, solar energy advisory, and financing sustainable materials manufacturers. Prior to joining Barclays, she held the position of Chief Financial Officer & Head of Finance at ACS Infrastructure Development, where she led strategic equity and finance initiatives, deploying over $5 billion in equity and debt capital across the U.S. and Canadian infrastructure markets. 'Amy's comprehensive expertise in project finance, M&A, risk management, and asset optimization, combined with her proven leadership in corporate finance, will be invaluable as we continue to expand our low-carbon energy initiatives,' said Tristan Grimbert, President and CEO of EDF power solutions North America. 'Her innovative approach to financial strategy and commitment to sustainability align perfectly with EDF power solutions' mission to lead the transition to a sustainable energy future. We are excited to welcome her to our team and look forward to her contributions in advancing our mission.' Amy holds a Master of Applied Finance from Macquarie University and dual bachelor's degrees in mathematics and politics from the University of Wollongong, Australia. Her global experience across Australia, North America, Europe, the UK, and the Middle East further enhances her ability to navigate complex financial landscapes and foster strategic partnerships. EDF power solutions North America has been providing clean energy solutions throughout the U.S., Canada, and Mexico since 1987. We are a market-leading independent power producer and service provider, serving utilities, corporations, industries, communities, institutions, and investors with reliable, low-carbon energy solutions that help meet growing demand. From developing and building scalable wind (onshore and offshore), solar, storage (battery and pumped storage hydropower), smart EV charging, microgrids, green hydrogen, and transmission projects to maximizing performance and profitability through skilled operations and maintenance and innovative asset optimization, our teams deliver expert solutions along the entire value chain—from origination to commercial operation. Our portfolio consists of 23 gigawatts of developed projects and 16 gigawatts under service contracts. In Canada, the Company has 2.6 GW of wind and solar power facilities in service or under construction. EDF power solutions is an affiliate of the EDF Group, a world leader in power production. For more information visit: Connect with us on LinkedIn, Instagram, and Facebook.
