French energy firm EDF has announced a rise in operating profit in 2019 thanks, in part, to the sale of 50% of its Neart na Gaoithe (NnG) Scottish offshore wind farm project.
EDF’s clean energy arm, EDF Renewables, sold half the project to Irish firm ESB in November last year.
The first initial payment is understood to be around £50 million.
Operating profit across the business before depreciation and amortisation rose from £14.8 billion in 2018 to £16.7bn in 2019.
Jean-Bernard Levy, EDF’s chairman chief executive, said: “The rebound first seen in 2018 was confirmed and enhanced by our performance in 2019.
“EDF is a profitable company, which has achieved its financial targets.
“The unwavering commitment of Group’s employees enabled us to further deploy our CAP 2030 strategy at a rapid pace, whilst making disciplined investments and reducing operational costs.
“We are forging ahead in all renewable energies, moving ahead with our commercial offensive in France and making strong progress with the implementation of our Solar, Electricity Storage and Electric Mobility plans and we are investing in nuclear existing assets and projects.”
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