French Energy Giant EDF Considers Divesting Up to 100% of North American Renewable Projects Amid Nuclear Investment Drive

French energy giant EDF is exploring the sale of up to 100% of its North American renewable energy subsidiary, CEO Bernard Fontana confirmed on November 26, signaling a strategic shift to concentrate investments on France’s nuclear program.

Initially, EDF had considered bringing in minority partners, but current scenarios range from a 50% stake sale to a complete divestiture of its North American division. Reports earlier this year indicated the company was considering a sale worth around $2 billion, representing roughly half of the subsidiary’s capital.

EDF Power Solutions North America has developed 23 GW of renewable projects across the United States, Canada, and Mexico, including 7.8 GW of projects directly owned and 16.2 GW under service contracts. Its portfolio spans wind power, energy storage, solar photovoltaics, electric vehicle charging stations, and green hydrogen, serving utilities, industries, communities, and investors.

The move aligns with EDF’s broader strategy to prioritize France’s energy sovereignty. Fontana, who became CEO in spring 2025, stated that the company will focus investment on the existing nuclear fleet, new reactor construction, and essential national energy infrastructure.

EDF faces substantial financing needs to extend the lifespan of its current nuclear fleet and construct at least six new EPR reactors. The group’s net financial debt stands at €50 billion, down €4.4 billion from the end of 2024, supported by €7.4 billion in bond issues, lower interest rates, and reduced short-term debt.

This strategic pivot underscores EDF’s commitment to strengthening France’s nuclear capabilities while potentially unlocking significant capital through its North American renewable energy portfolio.