September 27, 2017 / 11:23 AM / a year ago

France to reimburse 1.6 billion euros debt owed to EDF in 2018: government source

PARIS (Reuters) - The French government plans to pay EDF 1.6 billion euros in 2018 as part of a reimbursement program of a 4.6 billion euros renewable-energy subsidies related debt owed to the company, a government source said on Wednesday.

The debt is due to renewable energy subsidy payments that EDF has been forced to advance to the French state and which have built up as debt in its balance sheet.

The source said the government will reimburse EDF 1.6 billion euros this year and that a repayment calendar has been set to repay the full amount by 2020.

Reporting Simon Carraud; Writing by Geert de Clercq; Editing by Bate Felix

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