French energy giant EDF has reported a €900 million loss related to its Atlantic Shores offshore wind project located off the U.S. East Coast. This asset impairment adds to a further €300 million write-down on the Neart na Gaoithe offshore wind farm in the UK, highlighting the financial challenges the company is facing in its renewable energy sector investments. 3s4a2e

Despite posting an EBITDA of €36.5 billion for 2024, EDF's profitability has been affected by falling market prices and strategic adjustments. The company’s renewable energy portfolio, particularly in offshore wind, has been under pressure as costs rise and regulatory uncertainties increase.

EDF remains committed to its "Ambitions 2035" strategy, focusing on reinforcing its leadership in the energy transition and improving operational efficiency. However, the situation with Atlantic Shores raises questions about the financial viability of some of its international renewable projects.

As the offshore wind industry faces challenges such as cost increases and regulatory uncertainty, EDF’s next steps in this sector will be crucial in determining its future strategy for clean energy.

What's next for EDF?
The company will need to assess the impact of these losses on its global strategy and its ability to invest in new renewable energy projects, particularly in the U.S. market, where Atlantic Shores was one of its major offshore wind investments.