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EDF is mulling the sale of its coal- and gas-fired plants in Britain to help finance Hinkley Point C, Reuters has reported.
The news agency quoted two unnamed sources who said Barclays bank has informally approached potential buyers on the supplier’s behalf to gauge their interest.
EDF currently owns two coal-fired plants in the UK – Cottam and West Burton A – as well as one combined cycle gas turbine (CCGT) plant – West Burton B. All three have secured capacity market contracts.
It also owns the country’s existing nuclear fleet but according to the sources the company is not considering the sale of these assets, contrary to reports in January.
In April EDF announced plans to sell off assets worth €10 billion – including a stake in French transmission network company RTE – to help sure up its balance sheet ahead of a final investment decision on Hinkley. Over the weekend French newspaper Le Figaro reported that a 50 per cent share in RTE would be put up for sale.
A final investment decision on Hinkley is currently on hold while EDF consults with trade unions at the behest of its 85 per cent shareholder – the French state.
In her energy ‘reset’ speech in November energy secretary Amber Rudd pledged to phase out all unabated coal generation by 2025, and restrict its use from 2023. Earlier this month it was reported that coal plants could be allowed to stay open beyond that deadline if they made at least partial use of carbon capture and storage.
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