The French government has earmarked 12.7 billion euros for the announced renationalization of the EDF energy company and “any other operations,” Belga News Agency reports French Economy Minister Bruno Le Maire as saying.
“We have committed €12.7 billion to finance the EDF’s nationalization operation and any other operations that may be needed by the end of this year,” Le Maire said after a cabinet meeting, without giving further details.
Prime Minister Elisabeth Borne announced on Wednesday that the French government wanted to regain 100 percent control of the EDF. This should strengthen the company’s ability to carry out ambitious projects “indispensable for our energy future”, she said.
Le Maire described it as “an investment for the energy independence” of France.
The French government currently owns 84 percent of the EDF, which is also active in Belgium through its subsidiary Luminus.