By Kim Richters
French utility Electricite de France SA (EDF.FR) said Wednesday that it will create a joint venture with Abu Dhabi-based renewable energy company Masdar.
EDF said that the joint venture–called ESCO–will be an energy-service company with the goal of expanding into non-utility scale renewables and energy-efficient investments in a number of different countries and regions.
EDF will hold 50%, it said, with the other half held by Masdar, a subsidiary of Mubadala Investment, the investment company of the government of Abu Dhabi.
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(END) Dow Jones Newswires
September 11, 2019 13:01 ET (17:01 GMT)
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