The 10 years birthday annual report of EDF-Energies nouvelles is published ! I\’m proud of my design work on this job.

1. A speciAlist in renewAble
e n e r g i e s
eDF energies nouvelles is celebrating
10 yeArs of
green and sustainable growth
10 years as an integrated
diversified and international energy company
10 yeArs oF strAtegic Developments
and challenges to which we have
devoted all our energy

2. EDF EN, a world leader
in the green electricity generation
E 1,573 M
CONSOLIDATED REVENUES
E
455
EBITDA
M
E 106 M
NET INcomE - group shArE
1
4,512 mW gross INsTAllED cApAcITy
3,335 mW NET INsTAllED cApAcITy
IN sErVIcE or uNDEr coNsTrucTIoN
6 TWh
grEEN ENErgy gENErATED IN 2010
3,000 EmployEEs WorlDWIDE
2010 consolidated figures

3. We believe in RENEWAbLE ENERgIES
and their ability to become
COMpETITIVE in the future.
For the past 10 years, we have been enjoying rapid and profitable growth.
This performance has been predicated on our original strategic choices, which have paid off steadily. While renewables do not represent the only possible solution, they have established themselves
2 Firstly, we opted to focus on all renewable energies, with a special emphasis on wind energy, and as energies of the future. The wind and solar energy industries have created new growth prospects 3
to join forces with an industry-leading energy group a decade ago. Secondly, we decided to embark on a global scale and vast export markets.
on a diversified international expansion drive from the very outset, with an early move into the The leading energy groups and oil majors have very clearly grasped this point. The renewables
North American market. Thirdly, we chose to pursue profitable growth through a selective approach. market is in the process of gaining a whole new dimension, with major players holding sway.
For many years now, our firmly held beliefs have been guiding us on our way. We believe in This explains why we joined forces with the EDF group and are now forging even closer ties as
renewable energies, their ability to become competitive and their tremendous growth potential. we embark on a new phase in our industrial development.
Their share of the power generation market is bound to increase because they help to meet
several energy challenges, such as the availability of reserves, safety, environmental protection and,
ultimately, pricing.
Renewable energies have been spurred on by the fact that demand for energy is set to double
by 2050, while the supply of conventional energy is nearing its limits. They are supported by the
pâris Mouratoglou
Chairman of the Board of Directors
fact that it is vital for governments to consider their energy independence and curb environmental
impacts. Lastly, with energy prices forecast to increase and renewable energies maturing more
rapidly, they are likely to achieve grid parity, albeit at different rates. Wind energy is already
close to this point. With the other technologies, cost reductions and innovation have raised
the prospect that they will become competitive in the near future.

4. COmbininG strenGth AnD
fLexibiLitY tO OverCOme “bringing EDF EN and EDF
together is a way of achieving
ChALLenGes the best of both worlds”
Message from David Corchia, Chief Executive Officer
4 For the past decade, EDF Energies Nouvelles has been affiliated with EDF and thus enjoyed the backing of a 5
powerful group. Over this period, our exceptional pace of growth has been driven by the momentum of the Group
EXECUTIVE COMMITTEE and its market. However, our performance has been built on a business combination that brought together the
best of both worlds.
David Corchia
Chief Executive Officer
The strength of a major group and the dynamism of a SME*
Yvon André In our expansion into new markets and segments, we capitalised to the full on our momentum as an initially
Chief Operating Officer independent company set up by an entrepreneur. The Group, which has stayed flexible and nimble so that it can
(France) adapt to markets in various different countries, achieved very rapid expansion in international markets. It grew to
Philippe Crouzat become a leading player by working with partners and building teams that are now the envy of the global industry.
Chief Financial Officer Given the substantial capital requirements, its membership of a major energy group represented a major boost. The
Group provided its credibility, expertise, R&D capabilities and financial strength, giving its subsidiary the means to
Christophe Geffray
take off. And it provided financial backing for all the major stages in its development in wind, then solar energy,
Chief Operating Officer
through a series of capital increases.
(Industry)
Laurence Juin Continued emphasis on entrepreneurial vision to rise to new challenges
Deputy Chief Executive Officer A new era is beginning for renewable energies. The capital and industrial challenges are increasingly too big for
(Southern Europe) medium-sized companies to overcome. The EDF group wants to provide more direct support to its subsidiary as it
Olivier Paquier pursues an ambitious industrial plan. Together, we will make sure that we keep its entrepreneurial approach intact,
Chief Operating Officer as this emphasis on profitable organic growth has formed the bedrock of our value and our success. We provide
(Distributed Energies) a stimulating environment for our teams and our talented, committed and fully devoted partners.
*Small and Medium Enterprise

5. The board of Directors’ view
of the alliance between
a major group and a SME*
pâRIS MOURATOgLOU ELIE COhEN pIERRE RIChARD
Chairman of the Board of Directors Research Director at the CNRS Former Chairman of the Board
Professor at Sciences Po Member of Directors of Dexia SA Expert
“The relationship we of the Prime Minister’s Economic appraiser with the Board of Directors
built with a major group Analysis Board of the European Investment Bank
ten years ago made our Appointed on the recommendation of Appointed on the recommendation
expansion in renewable the EDF group. of the Mouratoglou group.
energies possible. Without “EDF EN has established “EDF EN is a fine example
EDEV SA STéphANE TORTAjADA this crucial support, we itself as the nationwide of a dynamic enterprise
Represented by Olivier Petros. Director of Financing and Investments could not have invested leader and a key player that has successfully
Renewable energies Director - of the EDF group so heavily.” worldwide since its IPO. pursued a profitable
EDF Group
“EDF EN has a genuinely Renewable energies are growth strategy in a
“With its initial foray into entrepreneurial culture. on the road to becoming fast-moving industry in
6 the hydro segment, EDF Combined with the cost-competitive, and there which operators need 7
already had a thirst for EDF group’s industrial jEAN ThOMAzEAU is no going back. Their to be nimble, responsive
renewable energies. In experience and financial Former Advisor to the CEO development on a massive and at the same time
2000, we were one of the clout, it will be able to play of BNP Paribas scale will contribute to financially very robust.”
first operators to embrace an active, pragmatic and “This combination global expansion.”
new energy sources. Now innovative role in helping between a large group
jEAN-LOUIS MAThIAS the time has come to lay new forms of energy to and a SME has created a
YVES gIRAUD
EDF Group Executive Director
the foundations so that take off.” melting pot of viewpoints
the renewable energies Generation Economics & Strategy
in charge of coordinating activities Director - EDF’s Generation Division. and cultures. It has ShAREhOLDINg STRUCTURE
in France, as well as the IT, gas and of the future can achieve enriched both of them. at April 7th, 2011
renewable energies activities success in production.” “The renewable energies
developed by EDF EN, It has also made for
“EDF EN represents a active governance and Mouratoglou Group
which do not emit CO2
combination of the skills a stimulating working
and have bright SIIF EDF Group
and strengths of
expansion prospects, Société Internationale
environment.”
Public
24.9% 25.1%
a fast-growing SME with d’Investissements Financiers
are naturally part of our
those of a major energy represented by
generation strategy.
group. We intend to Catherine Mouratoglou On 8 April 2011, EDF announced that it is launching a public
Their place in our energy
strengthen this win-win “I have seen the company cash or stock offer for the 50% of EDF Energies Nouvelles’
mix is assured.”
partnership even further grow from a family- capital that the Group does not already own. The indicative
through the increase in owned business to a timetable states that the offer will open by 26 May 2011 at
EDF’s ownership of SME operating on an the latest and close on 15 June 2011. The Mouratoglou group
the Company’s capital.” international scale. Its has undertaken to tender all of its shares to the offer-half to
the cash offer and half to the stock offer.
development has been
very impressive.” 50%
4 Directors appointed on the recommendation of the EDF group 3 Directors appointed on the recommendation of the Mouratoglou group. 2 independant Directors *Small and Medium Enterprise

6. IN ThE pAST
few believed that
environmentally friendly
ENERgIES
could form the basis
for a profitable
8 9
bUSINESS MODEL
WE bELIEVED IN ThEM
10 years before everyone else

7. CAPitALisinG On DiversitY MARKETS
segments with a bright future
meAns PLAYinG the riGht CArDs
At the riGht time EDF Energies Renewable energies are establishing themselves on the global
Nouvelles’ goal energy landscape. Their contribution to electricity generation is set
has always been to to grow going forward. Expert predictions, notably those made by
leverage SEVERAL the International Energy Agency, project further strong growth,
business segments even including in the lowest forecasts. EDF Energies Nouvelles has
and markets poised established itself in these energy segments of the future, with wind
for strong growth. and solar energy the priority.
Its development in
10 the already mature 11
WIND segment
and the SOLAR
segment, which is WIND Solar
◆ 26% growth p.a. ◆ Global installed capacity
experiencing a fast up 19-fold in 10 years
38
pace of technological 195
change, demonstrates
the pertinence of its
decisions. Likewise, 59
the group has opted
to integrate ThE 24 5
FULL SpECTRUM OF 2
SEgMENTS into its
activities as a producer 2001 2005 2010 2001 2005 2010
of green electricity. Total global installed capacity in GW (source: GWEC). Total global installed capacity in GW (source: EPIA).

8. WIND “The relatively resilient
performance of the
the cornerstone sector during the current
economic downturn shows
that clean energy was not
a bubble created by the
In the space of ten years, EDF Energies Nouvelles has become a major late stages of the credit
boom, but is instead an
player in the global wind energy industry. This now mature form investment theme that will
of electricity generation is the Group’s principal energy segment. It remain important for the
years ahead.
owns and operates more than one hundred wind farms, which it also A significant milestone
developed and built. Onshore wind, the core segment, is driving and was reached in early 2010:
will drive future growth thanks to the Group’s diversified portfolio of more than 100 countries
had enacted some type
high-quality projects in ten countries. of policy target and/or
promotion policy related
12 to renewable energy, up 13
from 55 countries in early
85% of capacity
2005.
Many new targets
enacted in the past three
years call for shares of
3,841 MW
energy or electricity from
renewables in the 15–25
percent range by 2020.”
in service or under construction
Source: REN21 / Renewable 2010 Global
3,700
Status Report
wind turbines installed
10 countries
Figures at 31 December 2010

9. SOLAR ”With effective policies
in place, PV on residential
the second pillar and commercial buildings
will achieve grid parity –
i.e. with electricity grid
retail prices – by 2020 in
For EDF Energies Nouvelles, solar photovoltaic represents a new many regions. PV will
become competitive
priority, forming its second development driver. The potential for this at utility-scale in the
still fast-moving segment is underpinned by technological innovation sunniest regions by
2030 and provide 5%
and the downtrend in costs. The Group has a presence in both ground- of global electricity.
based and roof array projects in six countries. As PV matures into a
mainstream technology,
grid integration and
management and energy
storage become key
14
50% of investments in 2010
issues. The PV industry,
grid operators and utilities
will need to develop
15
new technologies and
430 MWp
strategies to integrate
large amounts of PV into
flexible, efficient and
in service or under construction smart grids. By 2050, PV
could provide more than
3 million modules
11% of global electricity.”
Nobuo Tanaka,
installed IEA Executive Director
(International Energy Agency)
6 countries Source : IEA - 11 May 2010 - Valencia
Figures at 31 December 2010

10. INTEGRATED BUSINESS LINES
all areas of expertise under one roof
Development Construction generation Operations &
maintenance
EDF Energies Nouvelles is active from development through to
operations & maintenance for its own facilities, as well as providing
customised services to third parties.
16 Development Construction Generation Operations & maintenance 17
Cartographers identify the potential loca- EDF Energies Nouvelles coordinates its EDF Energies Nouvelles’ core business Ensuring the quality and sustainability of its
tions for a facility taking into account all various suppliers and subcontractors, buys consists in developing its portfolio of power generating facilities is a strategic task for
the known constraints. Engineers conduct equipment, supervises construction work plants and managing its assets. Its power EDF Energies Nouvelles. Thanks to its ope-
wind and insolation surveys to establish the and works closely with its various indus- plants, which are connected to the local rations & maintenance services, the Group
project’s feasibility and determine the size trial partners. To maximise the efficiency grids, add a green touch to local utilities’ maximises the output from its power plants
of the future power plant. The developers of its supply chain, the Group makes its energy mix. Some of the power plants it and their service life. It benefits from the
coordinate all the construction phases, purchases from a diversified base of manu- builds are sold to third-party investors experience gained over 25 years by its US
conduct impact studies and ensure through facturers and places its equipment orders (DSSA* business), which may ask EDF Energies subsidiary, the leading service provider in
consultation that the projects fit harmo- under multi-year contracts. Nouvelles to manage their facilities. In this North America, and more recently set up
niously into the landscape. Working along- case, the Group handles the generation operations in Europe to handle this aspect
side local officials, they make the case for and operations & maintenance activities. of the business in an integrated manner.
the project to the local authorities and over- Expertise and strengths that EDF EN har-
see applications for the relevant permits. nesses for the benefit of its customers by
providing a range of operations & mainte-
nance services.
*Development-Sale of Structured Assets

11. exPAnD hOriZOns ExPANSION
on two continents
AnD set mOre The group’s entire
strategy is based on From the very outset, EDF Energies Nouvelles focused on expanding outside France as
AmbitiOUs GOALs setting goals not just in market conditions were not very favourable in its domestic market at the time. From a base
in several European countries and the United States, the Group gradually broadened its
one or two markets, but
sights to the whole of Europe and North America.
on expanding in several
countries and segments
at the same time. A
diversified international FORAY
presence represents a into new segments
genuine ENgINE OF
gROWTh. It serves To prepare for the future, EDF Energies Nouvelles is establishing a presence in several promising
18 19
to smooth different new segments. The Group invests in a diverse range of technologies on a small scale, either alone
growth rates and or through partnerships, in order to track developments or bolster its expertise. The top priority is
reduces risk exposure. to gain access to the technologies of the future on preferential terms.
Most significantly,
The areas prospected include emerging technologies, such as offshore wind, marine energies,
it injects impetus biogas, biomass, biofuels and concentrated solar power. Each segment brings with it numerous
into development technological options. By establishing selective positions, we can detect where and when disruptive
by allowing it to tap technologies will emerge, turning a segment into a source of growth.
into a host of new
opportunities and
opening up NEW
hORIzONS.
PrESEnCE In 13 COuntrIES:
North America Europe 2,279 MW EurOPE: France, Portugal, Spain, Italy, Greece, turkey,
1,143 MW in service including 501 MW in France Bulgaria, united Kingdom, Belgium, Germany.
nOrtH AMErICA: united States, Canada, Mexico.

12. TODAYeverybody realises
that RENEWAbLE ENERgIES
are not merely an
ALTERNATIVE but
20
absolutely essential 21
WE gRASpED ThIS
10 years before everyone else

13. COntrOLLinG GrOWth FOCUS
on organic growth
is essentiAL tO mAintAin The development stage is key to the quality
PrOfitAbiLitY Renewable energies with
of projects and facilities. EDF Energies
Nouvelles draws heavily on the expertise
their great prospects of its teams for developing the projects
are enjoying strong and internally that are set to form the Group’s
rapid growth. given the asset base and create value in the future. The
substantial investments goal is not solely to become a market leader. SELECT
required, operators need
EDF Energies Nouvelles’ growth objectives are opportunities
set to reflect its high profitability standards and
to calibrate their plans financing capabilities. For its international expansion, the Group opts
accurately so that growth
in priority for markets still in their infancy with
remains under control and strong growth potential still intact. EDF Energies
22 profitable. EDF Energies 23
Nouvelles also selects countries offering a
Nouvelles’ business favourable regulatory framework and a stable
model incorporates two political and currency environment. The Group
imperatives of DEvELOP also follows a rigorous investment policy,
RISK CONTROL and turnkey facilities targeting projects based on strict profitability
standards and limited risk profile.
financial discipline.
The Group boasts a genuine key asset helping
it to pursue its goals in a controlled manner.
Developing and building projects for third
parties (DSSA* business) dovetails neatly
with the Group’s core business of generating
electricity. The Group can draw financing for its
expansion from the sale of power plants, which
covers most of its development costs.
*Development-Sale of Structured Assets

14. REvIEW OF 2010
excellent performance
3 questions to David Corchia, Chief Executive Officer “Over the long term,
I am perfectly confident
in the unparalleled
potential for renewable
2010 was another year of growth and DSSA business plays a part in our first-class earnings.
energies. They provide
profitability. What were the key factors? What’s more, we benefit from the EDF group’s
financial strength. These represent three genuine solutions to critical
Our development was led by our two principal seg- strengths providing flexibility and resilience. global issues, i.e. energy
ments. In the wind segment, growth in capacity supplies, environmental
was driven largely by Europe. In the solar segment, protection, drive to
we saw real acceleration in the pace at which pro- How far have you progressed towards your
create growth and jobs.
24 jects were commissioned in five different countries. year-end 2012 objectives? 25
However, the highlight of 2010 was the record level With each passing day,
of construction starts on both sides of the Atlantic. At present, we have 3,335 MW in net capacity in renewable energies are
Construction of over 1,000 MW in new capacity was service or under construction. Performance during becoming more and more
launched in our two priority segments, laying the 2010 confirmed that we are right on track to meet
established, especially
foundations for very healthy performance in 2011 our target of 4,200 MW in net installed capacity by
and 2012. From a financial perspective, we conti- year-end 2012. This objective is now in sight. We since the surge in energy
nued to achieve profitable growth, with EBITDA up are heading down the final stretch and starting to prices has rapidly made
36%, again ahead of our guidance, plus an increase prepare for the post-2012 period, with our excite- them closer to being
in net income. ment and dynamism still intact.
competitive.”
Won’t the changes in the regulatory
environment affect your performance? “We make sure that our development
is very carefully targeted and plan
The diversification in our positions across several ahead to be in the right place at the right
countries and segments has helped and will conti- time with the right projects.”
nue to help us contend with unexpected economic
and political developments. By covering the cost
of the lion’s share of our development costs, our

15. 10 YEARS EbITDA in e million Net income, group share
in e million
x 32 x 117
of profitable growth 106
455
In a world of growing demand for energy, EDF Energies Nouvelles is
actively contributing to the development of new generating capacity.
Its profitable growth is helping to create positive momentum for jobs
in its sector of activity. 17
62
14 0,9
2001 2005 2010
2001 2005 2010
26 27
STRONG GROWTH Net Installed Capacity in MW Employees A CONSTANTLY GROWING
in production capacity source of jobs
The capacity of the Group’s power plants in
service has risen thirty-fold since 2000. It has
commissioned more than one hundred wind
x 32 2,663
x 35 3,000
For the past ten years, the Group has enjoyed a
consistently brisk pace of expansion. This vigo-
rous growth has made EDF Energies Nouvelles
farms (2,923 MW gross) and the same number 233 one of the leaders in its sector and fostered the
solar PV
of solar facilities (267 MWp gross) around the creation of jobs.
world. This increase in its production capacity The Group’s headcount has gone up from
has translated into earnings growth on a similar 85 to over 3,000, not to mention the numerous
2,430
scale. The steep rise in our bottom line reflects wind turbines and others indirect jobs it has created at equipment manu-
648
410
the profitability of this growth. facturers and local subcontractors.
84 85
2001 2005 2010 2001 2005 2010

16. 2009
BeLGiUM
10 YEARS 2000 2008
Offshore
First 30 MW
First wind farm commissioned Increase in EDF Energies nouvelles capital,
of impressive accomplishments in France. EDF takes a 35% stake to finance the development
in SIIF Energies. of solar photovoltaic energy. 2008
FRAnCe
Chemin d’Ablis
52 MW
2002
PORTUGAL 2002 2008
Cabril & Pinheiro Acquisition of enXco, a leading player 2003 PORTUGAL
37.8 MW FRAnCe Ventominho
in the uS wind energy market. Bouin 2008
240 MW
US
EDF increases its participation in 19.5 MW
Sacramento
SIIF Energies to 50%. Sun
1.25 MWp
2010
2003
2009
US 2010
28 Chanarambie & Viking
CAnAdA
29
2004 2006
iTALy
Arnprior
97.5 MW Monte Grighine
23.4 MWp
98.9 MW
SIIF Energies changes its name to EDF Energies nouvelles. Stock Exchange Listing
on Euronext Paris.
2004 2006 2006 2010
US UniTed kinGdOM SPAin MeXiCO
Oasis Fenlands Biomass La Ventosa
60 MW 44 MW 26 MW 67.5 MW
2005 2010
FRAnCe SPAin
Aumelas Casatajada
22 MW 11.4 MWp 2010
TURkey
Soma
2007 2007
79.2 MW
US GReeCe
Fenton Perdikovouni
205.5 MW & kalyva
36 MW
2005
iTALy
Andretta
70 MW

17. IN ThE FUTURE
renewable energies
are set to become
COMpETITIVE
30 through an innovation 31
DRIVE and COST REDUCTIONS
WE ANTICIpATED ThIS
10 years before everyone else

18. shArinG sUCCess is SUSTAINABLE industrial partnerships
the best WAY Of mAKinG REPOWER vESTAS
it sUstAinAbLe Conquering the Canadian A natural business relationship
“
market together For more than 10 years, our two companies have
“
EDF Energies Nouvelles’ huge experience of the market and been strengthening each other’s positions and directly
The close relationships that operational conditions gives us an important advantage in supporting the worldwide development of the wind
EDF Energies Nouvelles, delivering performance and reliability, in using the most energy industry. Our partnership provides a unique
advanced technology. Our relationship is very open and capability for defining common objectives and focusing
a reliable and well-known trusting. We started working together on common projects on long-term planning. Ours is a natural business
operator, has forged in France and the U.K, and then in the U.S. The next big step relationship. As one of the largest global wind technology
was the joint tendering for a big tender offer in Quebec, and service providers, Vestas has an extensive experience
with the world’s leading which was very successful. This 954 MW project, which is in siting, installation and maintenance of wind power
equipment manufacturers, the biggest onshore contract in REpower’s history, was our plants in all the markets where EDF Energies Nouvelles is
entry into the Canadian market, and also the best example present. This has given us the opportunity to continuously
have helped to give of our mutual success. EDF Energies Nouvelles provided the share and benefit from best practices. Further, this has
a boost to the scale of its development capability, and of course the French rela- also allowed us to enhance our services, thus reducing
tionship to Quebec, and REpower handled the technolo- EDF Energies Nouvelles’ turbine downtime, lost production
32 projects, cut the associated gical part. We had a lot of interfaces and loops between and installation lead times. And this is just the beginning. 33
costs and raise consistently our teams.” EDF Energies Nouvelles and Vestas have an ambitious plan
Matthias Schubert, Member of the Executive to further develop their relationship in the area of wind
the level of its technical Board, REpower Systems AG. power plants.”
Thomas Kirk Jepsen,
performance. With its worldwide presence, REpower is one of the leading COO Vestas Mediterranean.
In the same way, it seeks system providers of wind turbines in the onshore and offshore
sector. The Danish company vestas is a global player and market leader
to pursue bALANCED in wind energy, operating in more than 70 countries worldwide.
Every three hours vestas installs a new wind turbine.
AND SUSTAINAbLE
FIRST SOLAR
pARTNERShIpS in
A virtuous circle of progress
international markets
“
The close relationship we’ve built supports our shared vision for the development of key markets for solar energy. It also helps
by working together to shape the policy environment in which both companies operate. Our long-term relationship reduces costs for EDF Energies
Nouvelles and helps First Solar to scale and reduce costs further. This completes a virtuous circle. The high volumes that we
with local operators. are able to sell to EDF Energies Nouvelles contribute to our ability to invest in R&D and to expand our manufacturing capacity.
This expansion accelerates the realisation of our joint vision of a world powered by clean, affordable solar energy. Together we
aspire to create utility-scale solutions to help countries meet their energy security and renewable energy goals.”
Stephan Hansen, Managing Director of First Solar GmbH and
Head of Components Business Group in Europe.
First Solar is the largest manufacturer of thin film solar modules in the world, and the first pure player renewable energy company to be listed
on the S&P 500.

19. POLAT
A winning combination
for development
“
The partnership in Turkey between Polat Group and
EDF Energies Nouvelles has led to a very strong
co-operation in technical and financial terms, with built-
in advantages for completing large investments in a
short time with optimum results. In the past two years,
Polat Enerji’s installed capacity has been multiplied
by 4. Clearly, our goals are to be a leader in the develop-
ment of wind power in Turkey, and also to begin
solar energy projects.
Together, Polat Group and EDF Energies Nouvelles WAL-MART
provide the technical and financial assets as well as A good wind to win
“
the institutional infrastructure required for this chal- EDF Energies Nouvelles greatly contributes to Wal-
lenge. Our relationship is a winning combination, Mart’s strategy of becoming the reference for a sus-
one that gathers the vision of a large international tainable company within Mexico. Our partnership gives
energy operator and the very specific knowledge of us the advantage of a team that has enough expertise
34 a major local player.” in energy projects to achieve our goal of being 100% 35
Adnan Polat, Polat. supplied by renewable energy sources by 2025. Since
the beginning both companies had in mind that, we
Active in Turkey for more than 60 years, the Polat group
of companies are among the best-known in their fields: needed to create a win-win relationship whatever the
industry, construction, tourism, and energy. In 2008, EDF Energies outcome would be. Operational since 2010, the La
Nouvelles became a 50% shareholder of Polat Enerji. Ventosa Oaxaca wind farm is the best example of our
fruitful collaboration. In Oaxaca, where the wind condi-
tions are particularly good, we have already proved
that it’s possible to produce renewable energy at a
very competitive cost, without subsidies. And the eco-
nomic benefits will increase as time passes and as the
price of the fossil fuels rises. Based on this successful
experience, we now look forward to exploring new
and innovative projects with EDF Energies Nouvelles.”
Juan Andrés Ruiz Figueroa, Energy Administration
Assistant Director, Wal-Mart Stores, Inc. Mexico.
Wal-Mart is the biggest retail company in the world. Since May
2010, 348 of its self-service stores, price clubs, and restaurants
in Mexico are using wind-powered energy from the La ventosa
wind farm.

20. enCOUrAGinG innOvAtiOn A NETWORK
of explorers NExCIS
meAns mAKinG PrOGress how to win microns
“
It represents a major bonus to work alongside entre-
POssibLe preneurial partners who encourage you to be auda-
cious and take risks while providing support to ensure
that these risks remain under control. Partnering with
EDF Energies Nouvelles brings tremendous benefits.
Its industrial vision, its technical capabilities and its
EDF Energies Nouvelles NANOSOLAR knowledge of the market have been crucial. Its ability
to push back the frontiers challenges you to go further.
From the laboratory to
is helping to create the We knew when we launched Nexcis that we needed
on-the-ground operation to target competitive rates by 2013 without counting
industries of the future.
“
As a young, start-up manufacturer, the solidity and on subsidies. EDF Energies Nouvelles’ experience has
Acting as a genuine reputation of EDF Energies Nouvelles has given enabled us to develop a product geared to the needs of
Nanosolar the credibility to raise money, to purchase the French domestic market, and EDF’s R&D network,
catalyst, the group factory equipment for capacity expansion, and to originally behind this technology, gave us access to its
detects new technologies, obtain new customers. EDF Energies Nouvelles has powerful testing resources. At present, our 2-micron
thin film electrodeposition process for a CIGS (copper,
36 identifies the right
continuously supported Nanosolar’s efforts to improve
indium, gallium and selenium) alloy rather than 150
37
the performance and quality of the Nanosolar Utility
partners or supports Panel. Our goal is for it to ultimately become one of microns for crystalline silicon modules delivers effec-
the lowest cost solar panels. In 2011, EDF Energies tive conversion performance combined with very low
start-up businesses. Nouvelles is building a 3 MW test installation in manufacturing costs. We are currently one of very few
It is prepared to take on Gabardan (France) with Nanosolar Utility Panels and companies around the world able to do this.“
another 3 MW installation in Salem, Oregon (USA). Olivier Kerrec, Chief Executive Officer of Nexcis
the risk of investing The results of these test installations will enable us to
Founded in March 2009 and based in southern France’s Energy
in pilot units and in still obtain bank financing in 2012 for larger, utility-scale valley (PACA region) at the former STMicroelectronics facility,
installations. We hope that this important collaborative
unproven technologies. partnership will permit us to raise the level of production
Nexcis, a start-up now with 80 employees, plans to commission
a 33 MW power plant by year-end 2013.
This reflects its of our panels to an industrial stage in the coming years.
We also expect to enable EDF Energies Nouvelles to
pIONEERINg SpIRIT. build solar PV plants that are truly competitive with
fossil fuel-generated power on a Levelized Electricity
Cost (LCE) basis within the next several years.“
Geoff Tate, Chief Executive Officer of Nanosolar
Located in San Jose, California, Nanosolar is a leading manufac-
turer of cost-efficient thin film solar cells and panels, based on
printing CIGS (CuInGaSe) and nanoparticle inks.

21. EDF R&D
2,000 R&D staff to find
new solutions rapidly
“
The development of renewable energies requires a very
large-scale effort in terms of innovation. The goal is to
improve the technical aspects to cut costs and integrate
more effectively what are generally intermittent energy
sources with electricity grids.
The ties between EDF Energies Nouvelles, an agile and
DCNS innovative enterprise that has very extensive knowledge
of its markets, and EDF’s Research and Development
A new wave of energies
“
teams, help to accelerate progress and harness new
DCNS was looking to capitalise on the marine expertise industrial opportunities. Our close cooperation, which
it has acquired over four centuries through the recovery dates back to the Company’s early days, is set to increase
of energy from the sea. When we found out that in certain key areas: thin film solutions to deliver disruptive
EDF Energies Nouvelles held the right from Carnegie to technologies in solar photovoltaic, offshore wind and the
use a technology suitable for harnessing wave energy, extensive field of marine energies. The next step will be
we offered to handle system engineering and oversee to integrate all these renewable energies in smart grids,
implementation of its projects. Our first joint project was which will require new storage solutions. The comple-
a prototype on Reunion Island, which will be implemented
38 at full scale this year. Altogether, the system is 30 metres
mentary relationship between research and operations 39
represents a key asset for the Group’s competitiveness in
high. Under the surface, a tank is linked by a connector to the major European and worldwide markets. The future
a pump fitted on the seabed, which pushes a fluid through for renewable energies has never been as bright as it is
to an onshore turbine. This is a pragmatic approach that now!”
is both technically and economically efficient. The aim
Bernard Salha,
is to demonstrate the reliability of the installation and
EDF’s Director of Research and Development
assess the cost per kWh generated when the wave farm
comprising several units is built. The system, the rights With 2,000 R&D staff, EDF R&D covers all of the group’s activities
from the production of nuclear, thermal, hydro and renewable
to which were acquired by EDF Energies Nouvelles, has
energy through to distribution and marketing.
the benefit of being adjustable to the power of the
waves, potentially making it possible to find an optimum
economic balance, particularly on Reunion Island where
power generation costs remain higher than in mainland
France.”
Frédéric Le Lidec,
Director of the DCNS incubator
DCNS is a world leader in the naval defense sector and an
innovative player in the energy sector, from civil nuclear power
to renewable marine energies.

22. We are siNcerelY graTeFUl To all The people Who parTicipaTeD
iN The iNTerVieWs pUBlisheD iN This acTiViTY reporT
Disclaimer
The figures and information in this activity report are provided for information purposes only and are not contractually
binding. This document does not constitute an offer to sell or solicitation to buy securities in the United states or in any
other country. This document contains forward-looking statements. eDF energies Nouvelles believes that they are based
on reasonable assumptions, which may prove to be inaccurate and which are in any event subject to risk factors and
uncertainties. There is no certainty that the forecast events will occur or that the forecast results will actually be achieved.
40 These potential risks and uncertainties and the assumptions underpinning these forward-looking statements are presented
in eDF energies Nouvelles’ registration Document, notably in chapters 4 and 13 (which may be viewed on the amF’s web
site at www.amf-france.org or on eDF energies Nouvelles’ website at www.edf-energies-nouvelles.com).
phoTo creDiTs
hervé hôte - agence caméléon (2nd cover, p.3, p.4, p.15, p.17, p.20, p.22, p.25, p.28-29, p.32, 3 rd cover);
stéphane de Bourgies (p.6-7); philippe Dollo (p.8, p.10, p.13, p.28, p.32, p.35); miguel merino - mstudio (p.10,
p.18, p.29); Jans meier (p.17); Dennis schwartz (p.18, p.29); Turbomach (p.22, p.28, p.30); christian König (p.28);
Wind prospect Development (p.28); smUD (p.29); c-power (p.29); Nanosolar inc. (p.36); Jean-luc abraini (p.36);
eDF - stroppa philippe (p.39); DcNs - ceTo (p.39); Nicolas chorier / lagarrigue / egis eau (3rd cover).
DesigN aND proDUcTioN
The Crew Paris

23. may 2011
Corporate Communications Department
EDF Energies Nouvelles
Cœur Défense – Tour B
100, Esplanade du Général de Gaulle
92932 Paris La Défense Cedex
Tel: +33 (0)1 40 90 23 00
Fax: +33 (0)1 40 90 23 66
Limited company with capital of e124,109,465.60
RCS Nanterre B 379 677 636
www.edf-energies-nouvelles.com