French electricity giant Electricite de France SA (EDF.FR) is still determined to grow in Germany, despite the recent sale of its 45% stake in EnBW Energie Baden-Wuerttemberg AG (EBK.XE), daily newspaper Handelsblatt reports ahead of publication Tuesday.
French electricity giant Electricite de France SA (EDF.FR) is still
determined to grow in Germany, despite the recent sale of its 45% stake in EnBW
Energie Baden-Wuerttemberg AG (EBK.XE), daily newspaper Handelsblatt reports
ahead of publication Tuesday.
Pierre Lederer--executive board member in charge for continental
Europe
,
including the German market--tells the newspaper in an interview that
state-controlled EDF is willing to invest large amounts of money to expand in
Germany
,
possibly via acquisitions.
"
Germany
is
the largest energy market in
Europe
. We
need to be present here," Lederer is quoted as saying.
Lederer said EDF is keen to supply large customers with energy and is
contemplating taking stakes in power plants or renewable energy projects,
Handelsblatt reports.
EDF would also be interested in acquisitions in
Germany
and
is monitoring the market for opportunities, Lederer is quoted as saying, adding
that municipal utilities are "frequently looking for partners."
In December, EDF agreed to sell all of its shares in EnBW to the southern
German state of Baden-Wuerttemberg in a deal that valued the stake at around
EUR4.67 billion.
The company's remaining activities in
Germany
focus
on the wholesale of energy and a stake in a natural gas storage, Handelsblatt
says.
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