DOCUMENT 2010 REGISTRATION DOCUMENT 2010 REGISTRAT DOCUMENT 2010 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUM 2010 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUM 2010 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUMENT2 s s 2EGISTRATION DOCUMENT s 2010 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUMENT2 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUMENT 2010 REGISTRAT DOCUMENT 2010 REGISTRATION DOCUMENT 2010 REGISTRAT REGISTRATION DOCUMENT 2010 REGISTRATION DOCUMENT 2010 REGISTRAT 2010 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUM 2010 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUMENT2 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUMENT 2010 DOCUM REGISTRATION DOCUMENT 2010 REGISTRATION DOCUMENT REGISTRAT REGISTRATION DOCUMENT 2010 REGISTRATION DOCUMENT 2010 REGISTRAT DOCUMENT REGISTRATION DOCUMENT 2010 REGISTRATION DOCUM 2010 REGISTRATION 2010 REGISTRATION DOCUMENT 2010 REGISTRAT DOCUMENT2010 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUM 2010 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUMENT 2 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUMENT 2010 REGISTRAT DOCUMENT 2010 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUM 2010 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUMENT2 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUMENT 2010 REGISTRAT DOCUMENT 2010 REGISTRATION DOCUMENT 2010 REGISTRAT DOCUMENT 2010 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUM 2010 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUM 2010 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUMENT2 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUMENT 2010 REGISTRAT DOCUMENT 2010 REGISTRATION DOCUMENT 2010 REGISTRAT DOCUMENT 2010 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUM 2010 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUM 2010 REGISTRATION DOCUMENT 2010 REGISTRATION DOCUMENT2 2REGISTRATION D010OCUMENT 2010 REGISTRATION DOCUMENT 2010 REGISTRAT WorldReginfo - edcb159b-68f3-4915-a724-555f931f3711 In this registration document, the terms “EDF Energies Nouvelles” and the “Company” refer to EDF Energies Nouvelles SA. The “Group” refers to the group comprising the Company and all of its subsidiaries. This registration document includes forward-looking statements and information about the objectives of the Group, in particular, relating to its projects in progress. These statements are sometimes identifi ed by the use of the future or conditional tense, as well as terms such as “estimate”, “believe”, “have the objective of”, “intend to”, “expect”, “result in”, “should” and other similar expressions. It should be noted that the realisation of these objectives and forward-looking statements is dependent on the circumstances and facts that arise in the future. The forward-looking statements and information about the objectives may be affected by known and unknown risks, uncertainties and other factors that may signifi cantly alter the future results, performance and accomplishments planned or expected by the Company. These factors may include changes in the economic and commercial situation, regulations and the risk factors described in Chapter 4 of the registration document. Investors are invited to read carefully the risk factors included in Chapter 4 of this registration document before making a decision on whether to invest in the Company. The occurrence of one or more of these risks may adversely affect the Group’s business, fi nancial position or results of operations, or on its ability to achieve its objectives. This registration document contains fi gures and numbers that have been rounded off. Accordingly, the amounts stated as being totals in tables and the various sections of this document may not correspond to the arithmetic sum of the relevant numbers and fi gures. The Group presents both the gross and net capacity of its power plants. Gross capacity represents the total capacity of a power plant consolidated by the Group. Net capacity refl ects the interest held by the Group in a consolidated power plant. Unless stated otherwise, all capacity fi gures given in this registration document for power plants are gross capacities. A glossary defi ning the principal terms in this registration document appears at the end of this document. 2010 Registration document • EDF Energies Nouvelles WorldReginfo - edcb159b-68f3-4915-a724-555f931f3711 Société Anonyme with share capital of €124,109,465.60 Head offi ce: Cœur Défense – Tour B 100, Esplanade du Général de Gaulle - 92932 Paris - La Défense Cedex- FRANCE 379 677 636 RCS Nanterre 2010 Registration document This registration document was fi led with the Autorité des Marchés Financiers (AMF) on 7 April 2011 in accordance with Article 212– 13 of its General Regulation. It may be used in support of a fi nancial transaction if it is supplemented by a memorandum bearing a visa issued by the Autorité des Marchés Financiers. This document has been prepared by the issuer, and its signatories are responsible for its content. In accordance with Article 28–1 of Regulation 809/2004/EC issued by the European Commission, the following information is included by reference in this registration document: ➤ the consolidated fi nancial statements of EDF Energies Nouvelles for the fi nancial year ended 31 December 2008 prepared in line with IFRSs and the corresponding Statutory Auditors’ report, as well as EDF Energies Nouvelles’ operating and fi nancial review for the fi nancial year ended 31 December 2008 as shown in the 2008 registration document fi led by EDF Energies Nouvelles with the Autorité des Marchés Financiers on 17 April 2009 under number R.09-020 (the “2008 Registration Document”) on pages 132 to 188,≈189 to 190 and 81 to 91 respectively; and ➤ the consolidated fi nancial statements of EDF Energies Nouvelles for the fi nancial year ended 31 December 2009 prepared in line with IFRSs and the corresponding Statutory Auditors’ report, as well as EDF Energies Nouvelles’ operating and fi nancial review for the fi nancial year ended 31 December 2009 as shown in the 2009 registration document fi led by EDF Energies Nouvelles with the Autorité des Marchés Financiers on 29 March 2010 under number D.10-0183 (the “2009 Registration Document”) on pages 145 to 213, 214 to 215 and 84 to 102 respectively. Copies of this registration document are available free of charge from EDF Energies Nouvelles, 100, Esplanade du Général de Gaulle - 92932 Paris - La Défense Cedex - FRANCE, and may also be downloaded from the web sites of EDF Energies Nouvelles (www. edf- energies- nouvelles.com) and the Autorité des Marchés Financiers (www.amf-france.org). WorldReginfo - edcb159b-68f3-4915-a724-555f931f3711 1 Persons responsible for the 9.6 OFF-BALANCE SHEET COMMITMENTS 95 9.7 FINANCIAL INFORMATION CONCERNING registration document 5 EDF ENERGIES NOUVELLES SA 97 1.1 PERSONS RESPONSIBLE FOR THE REGISTRATION 9.8 PAYMENT TIMES 101 DOCUMENT 5 1.2 CERTIFICATION OF THE PERSONS RESPONSIBLE FOR THE REGISTRATION DOCUMENT 5 10 Liquidity and capital resources 102 10.1 INFORMATION ABOUT THE GROUP’S CAPITAL 102 2 Parties responsible for the audit 10.2 CASH FLOW 102 of the fi nancial statements 6 10.3 FINANCING 102 10.4 RESTRICTIONS ON THE USE OF CAPITAL 102 2.1 STATUTORY AUDITORS 6 10.5 EXPECTED SOURCES OF FINANCING FOR FUTURE 2.2 SUBSTITUTE AUDITORS 6 INVESTMENTS 103 3 Selected fi nancial information 7 11 Research and development, patents and licences 104 4 11.1 RESEARCH AND DEVELOPMENT 104 Risk factors 9 11.2 TRADEMARKS, PATENTS AND LICENCES 104 4.1 RISKS ASSOCIATED WITH THE RENEWABLE ENERGIES INDUSTRY, NOTABLY THE WIND AND SOLAR PHOTOVOLTAIC ENERGY SEGMENTS 10 12 Information about business trends 105 4.2 RISKS ASSOCIATED WITH THE GROUP’S BUSINESS ACTIVITIES 14 12.1 DEVELOPMENTS SINCE THE END OF THE 2010 4.3 RISKS ASSOCIATED WITH THE COMPANY 19 FINANCIAL YEAR 105 4.4 MARKET RISKS 21 12.2 FUTURE PROSPECTS 105 4.5 LEGAL RISKS 25 4.6 INSURANCE AND RISK COVERAGE 26 13 Profi t forecasts or estimates 106 13.1 GROUP PROFIT FORECASTS OR ESTIMATES 106 5 General information about the issuer 28 13.2 STATUTORY AUDITORS’ REPORT ON THE PROFIT FORECASTS 107 5.1 HISTORY AND DEVELOPMENT OF THE COMPANY 28 5.2 INVESTMENTS 29 14 Administrative, management 6 Business overview 31 and supervisory bodies and executive management 108 6.1 GENERAL PRESENTATION 32 14.1 COMPOSITION AND OPERATION OF THE 6.2 COMPETITIVE STRENGTHS 34 MANAGEMENT AND CONTROL BODIES 108 6.3 STRATEGY 36 14.2 CONFLICTS OF INTEREST AFFECTING MEMBERS 6.4 MARKET AND COMPETITIVE POSITION 37 THE ADMINISTRATIVE BODIES AND EXECUTIVE 6.5 DESCRIPTION OF THE GROUP’S PRINCIPAL MANAGEMENT TEAM 115 BUSINESS ACTIVITIES 52 6.6 DEPENDENCE FACTORS 72 6.7 LEGISLATIVE AND REGULATORY ENVIRONMENT 72 15 Compensation and benefi ts 116 6.8 ENVIRONMENTAL POLICY 75 15.1 COMPENSATION AND BENEFITS IN KIND 116 15.2 TOTAL PROVISIONS FOR PAYMENT OF PENSIONS, RETIREMENT PROVISION AND OTHER BENEFITS TO 7 Organisational chart 78 SENIOR MANAGERS 122 16 8 Property, plant and equipment 80 Operating procedures of the administrative 8.1 PROPERTY, PLANT AND EQUIPMENT OF THE GROUP 80 and management bodies 123 8.2 ENVIRONMENTAL CONSIDERATIONS RELATING TO THE GROUP’S OWNERSHIP OF PROPERTY ASSETS 82 16.1 APPOINTMENTS HELD BY MEMBERS OF THE ADMINISTRATIVE AND MANAGEMENT BODIES 123 16.2 INFORMATION ABOUT SERVICE CONTRACTS 9 Operating and fi nancial review 83 LINKING MEMBERS OF THE COMPANY’S ADMINISTRATIVE AND MANAGEMENT BODIES 9.1 GENERAL PRESENTATION 84 TO THE COMPANY 123 9.2 RESULTS OF OPERATIONS 87 16.3 BOARD-LEVEL COMMITTEES 123 9.3 FINANCIAL STRUCTURE 93 16.4 CORPORATE GOVERNANCE 126 9.4 LIQUIDITY AND CAPITAL RESOURCES 93 9.5 DEBT STRUCTURE 94 2010 Registration document • EDF Energies Nouvelles WorldReginfo