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France picks new CEO for EDF ahead of nuclear buildout
reuters
French President Emmanuel Macron has appointed Bernard Fontana, current head of Framatome, as the new CEO of EDF. The move comes as EDF prepares for a significant expansion of nuclear energy in France, with plans to build six new reactors in the coming years.
The appointment comes as EDF is gearing up for an ambitious expansion of nuclear energy, with plans to construct six new nuclear reactors across France in the coming years. The French government recently cleared a significant hurdle for this project, securing a state loan to cover at least half the construction costs, a vital step towards realizing Macron's vision for an enhanced nuclear infrastructure.
Prime Minister François Bayrou, speaking to the press in central France, praised Fontana's leadership, noting his experience in leading teams and accelerating large-scale construction projects. “We are facing the construction of new nuclear plants, projects that are costly and complex, but Bernard Fontana’s leadership will be crucial as we move forward,” Bayrou said.
EDF has faced challenges in recent years, including long delays and budget overruns in the completion of its newest reactor, which was connected to the grid a full 12 years behind schedule. These difficulties have underscored the need for strong leadership as the company embarks on the ambitious task of expanding France’s nuclear energy capacity.
The leadership change comes after months of challenging negotiations between EDF and the energy sector over long-term power supply contracts. Despite these hurdles, the government remains committed to the nuclear buildout, positioning it as a cornerstone of France's energy future.
Fontana’s extensive experience in nuclear energy and his leadership at Framatome – a company in which EDF holds a majority stake – is expected to play a key role in addressing the challenges ahead. His appointment marks a new chapter for EDF as the utility company faces the pressures of modernizing France’s energy infrastructure while navigating the complexities of the global energy landscape.
As EDF prepares for its critical role in advancing France's energy transition, the focus remains on completing the planned reactors on time and within budget, with the future of France's nuclear energy sector relying heavily on the success of these projects.
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