Energy: Edison Will Invest €10 Billion By 2030 And Rely On Nuclear Power

Historic Italian energy company Edison (controlled by French group Électricité de France) has presented an ambitious investment plan for the next 10 years and released some strategic data, also for the next decade.

140 years ago, Edison began his activities by promoting the electrification of Italy, and today the economic goal is to double turnover, while at the same time contributing to the response to the energy challenges of decarbonization. To accelerate the transition, Edison announced investments of 10 billion euros between 2023 and 2030 and a target to double gross operating margin (EBITDA) from 1.1 billion to 2-2.2 billion; in the same period, activities with zero or near-zero direct emissions will move from an average 35% to 70% of EBITDA.

By 2040, however, the group aims to have 90% decarbonized energy production “through the use of renewable energy sources and new technologies, such as CO₂ capture and new nuclear energy, if the conditions for its return to Italy are created,” says a note issued by Edison.

Of the 10 billion investment, half will be dedicated to the development of renewable sources, 1 billion to “flexible systems,” and 2.5 billion to “energy services to decarbonize consumption; the rest will be designated to gas activities and customer portfolio growth.”

By 2030, the goal is to achieve 5 GW of installed renewable capacity, thanks to wind, photovoltaic, and hydroelectric power plants (today it is 2 GW), to create at least 2 new highly efficient and flexible thermoelectric latest-generation systems, with a total installed capacity of about 2 GW in total, to compensate for the intermittency of renewable sources and respond to their growing penetration. Next, the plan is to create storage systems of 500 MW and at least 1 approved CO₂ capture system, which will be installed by 2035 at the Group’s thermoelectric power plant.

A possible return to nuclear energy in Italy will be decisive for decarbonization goals. “Edison believes that nuclear energy can play a key role in achieving the EU’s carbon neutrality goals by providing stability to the electricity system and compensating for the intermittency of renewable energy sources,” the communiqué says. “Nuclear energy is one of the generation sources with lower CO₂ emissions, as it ensures a reduction in soil consumption relative to the installed electrical power and allows for optimal production programming.”

The idea is to use the latest technology or a small modular reactor (SMR) and use two nuclear plants of 340 MW each.