Edison Explores Opportunities for SMR Deployment in Italy

08 Oct, 2023

Edison Explores Opportunities for SMR Deployment in Italy

As Edison marks its 140th anniversary, the company has set ambitious targets for its future. By 2030, it aims to double its EBITDA to a range of EUR 2.0-2.2 billion (USD 2.1-2.3 billion), up from EUR 1.1 billion in 2022. This growth will be driven by a significant shift in its industrial portfolio, with 70% of EBITDA coming from zero or near-zero emission activities, compared to an average of 35% over the past three years. Edison also plans to have more than 45% of its 2030 business portfolio dedicated to zero-emission electricity generation.

By 2040, Edison's goal is to have 90% of its generation mix decarbonized, incorporating renewables and advanced technologies like CO2 capture and potentially new nuclear power. They aim to reduce their CO2 emission factor from 293 grams per kilowatt-hour in 2022 to 190 g/kWh in 2030, and as low as 50 g/kWh in 2040, reducing absolute emissions in parallel.

Edison sees nuclear energy as a key player in achieving the EU's carbon neutrality targets, offering stability to the electricity system and complementing intermittent renewables. They are considering the development of new nuclear power plants using Small Modular Reactor (SMR) technology, with plans to build two 340 MW plants between 2030 and 2040.

Edison's CEO, Nicola Monti, emphasized the company's commitment to innovation and sustainability in contributing to the energy transition. The company continues to invest in creating new supply chains in the ecological transition, fostering progress for all stakeholders.

In March, Edison's majority owner, EDF, signed a letter of intent with Italian companies to explore potential industrial cooperation in developing nuclear power in Europe, including SMRs, in response to Italy's growing energy security needs.

Italy's history with nuclear power includes phasing out existing plants in the aftermath of the Chornobyl accident in 1986 and a moratorium on new nuclear construction after the Fukushima Daiichi accident in 2011. However, recent polls suggest a growing openness to reconsidering nuclear energy in Italy, and the government is actively exploring the possibility of incorporating it into the country's energy mix.