According to a statement from the producer and seller of electricity and gas controlled by the French giant Edf, which is celebrating 140 years in business today, the plan's goal "will be achieved through a significant change in the industrial portfolio that will result in zero or near-zero direct emission activities accounting for 70 percent of Ebitda compared to an average of 35 percent over the last three years."

This development will be financed through operating cash flows and a level of debt in line with investment grade ratings.

The note adds that Edison "has the ambition to have 90 percent of its energy production decarbonized by 2040 through the use of renewables and new technologies, such as CO2 capture and new nuclear, if the conditions are created for its return to Italy."

What's new in the plan, however, even if shifted another ten years forward, is the intention to return to nuclear power generation in Italy: "Edison has the ambition to develop the new nuclear, if the conditions are created for its return to Italy. In particular, Edison aims to start up two nuclear plants of 340 MW each with Smr technology between 2030 and 2040."

At the moment, the sites in Italy where the plants could be built have not been identified, CEO Nicola Monti pointed out during the meeting to celebrate 140 years since the company began operations at its historic Foro Buonaparte headquarters.

Looking ahead to 2040, Edison believes, in fact, that nuclear energy will be able to play a key role in achieving EU carbon neutrality targets, providing stability to the electricity system and offsetting the intermittency of renewable sources. The new "small modular reactor" technology can be used to produce electricity and thermal power, responding in a versatile way to the needs of energy-intensive districts and territories.

As for the expected investments, of the 10 billion planned, about half will focus on the development of renewable sources, about 1 billion on flexibility systems, and about 2.5 billion on energy services for the decarbonization of consumption. The remaining 1 to 2 billion euros will be allocated to gas activities and customer portfolio growth.

The French group wants to maintain its key role in Italy's energy security and autonomy with a flexible and increasingly decarbonized gas portfolio, thanks to green gases such as hydrogen and biomethane. Edison's goal to 2030 is to continue to meet 20 percent of Italian gas demand with green gases accounting for about 5 percent of the portfolio.

"Edison continues to invest in innovation to create new Italian and European supply chains in the green transition ensuring that the transition to the new era is an opportunity for progress for all," Monti commented.

(Giancarlo Navach, editing Stefano Bernabei, Francesca Piscioneri)