"France's EDF said on Monday it was considering selling all or part of its US renewable energies unit as part of a five-year cost-cutting plan to save five billion euros. The energy giant told AFP it was conducting "a review of its portfolio to go ahead with possible divestments", confirming a report given by Les Echos financial newspaper. The company was looking to a possible "full or partial divestment of its renewable platform in the United States", EDF Power Solutions, it said."
"The company was looking to a possible "full or partial divestment of its renewable platform in the United States", EDF Power Solutions, it said. It was also considering opening up its Italian subsidiary Edison to other stakeholders. EDF is embarking on its cost-reduction plan to bring down its debt, which amounted to 54.3 billion euros at the end of last year."
EDF is evaluating the sale of all or part of its US renewable energies unit, EDF Power Solutions, as part of a five-year cost-cutting plan aimed at saving five billion euros. The company is conducting a review of its portfolio to pursue possible divestments and is considering a full or partial divestment of its renewable platform in the United States. EDF is also weighing opening its Italian subsidiary Edison to external stakeholders. The cost-reduction measures are intended to lower the company’s debt, which stood at 54.3 billion euros at the end of last year.
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