French government-owned electric utility EDF is weighing the sale of its entire U.S. renewable energy business as it shifts its focus toward expanding nuclear capacity at home and faces reduced policy support for wind and solar in the U.S., Reuters reported.

CEO Bernard Fontana said the company is now considering selling between 50% and 100% of its U.S. renewables arm, having previously planned to divest only a minority stake.

EDF’s U.S. renewable energy business could be valued at close to €4 billion (~$4.6 billion) in a potential deal.

Fontana, who took over as CEO in April amid government dissatisfaction with delays in upgrading France’s nuclear fleet, is prioritising investments that bolster France’s energy security. He spoke to Reuters during the Adopt AI conference in Paris.

Reuters noted that EDF has been exploring options to raise funds for the construction of six new nuclear reactors and has flagged possible asset disposals as it manages a net debt load of €50 billion.

Nuclear plants provide around 70% of France’s electricity, keeping the country’s power prices below those in Germany and the U.K., where gas-fired generation plays a larger role. However, falling French power prices mean EDF cannot rely on wholesale markets alone to recover the full lifecycle costs of nuclear plants, even as it plans to expand its nuclear fleet and extend the operating life of existing reactors.

According to EDF’s website, the company has developed 23 GW across 300-plus projects and manages 16.2 GW under service contracts in North America.

Recently, the U.S. Department of Energy announced the termination of 321 financial awards supporting 223 energy projects, most of which are clean energy projects, claiming an estimated savings of $7.56 billion.

The Department also plans to return more than $13 billion approved under the Biden administration to incentivize renewable energy project development.

In July this year, U.S. President Donald Trump signed an executive order directing the Secretary of the Treasury to terminate the clean electricity production and investment tax credits for wind and solar projects.