The French state plans to nationalize the energy company EDF, French Prime Minister Elisabeth Born said while speaking in the National Assembly (lower house of parliament).
“I confirm the government’s intention to control 100% of EDF’s capital,” Born said. “We must ensure our sovereignty in the face of the consequences of the conflict in Ukraine and the enormous challenges ahead,” she said.
At the same time, the prime minister said France would bet on developing renewable energy sources.
“We will accelerate the introduction of renewable energy resources. We will invest in nuclear energy, creating new reactors and innovations for the nuclear energy of the future,” said the head of the French government.
EDF is France’s most prominent state-owned energy-generating company. The state currently owns 80% of the company’s capital. EDF manages nearly six dozen nuclear power units, providing power to 25 million homes.