Edison aims to double core profits by 2030, eyes nuclear energy

Edison EDNn.MI aims to nearly double its core earnings by 2030 with an accelerated roll out of renewables and hopes to restart producing nuclear energy by 2040, the Italian energy group said.

In its long-term strategy plan, the Italian subsidiary of France’s EDF EDF.PA said it was targeting earnings before interest, taxes, depreciation and amortisation (EBITDA) of between 2 billion euros and 2.2 billion euros ($2.10 billion-$2.31 billion) in 2030 from 1.1 billion euros last year.

To reach the goal, the 140-year-old group plans to invest 10 billion euros, half of which in the development of renewable energy. In the long-term, the group hopes that Italy will lift its ban on nuclear energy production, allowing it to set up two stations based on nuclear power.

Source: Reuters