Plans for the move were announced to coincide with World Environment Day, which took place yesterday.
The chief executive of EDF Energy, Vincent de Rivaz, said the new venture represented "an exciting new phase" for the company.
He said: "We are committed to our renewables programme as part a diverse range of energy sources.
"This diverse mix includes all types of low carbon generation, renewables, clean coal, gas and nuclear, all linked to a strong effort on energy efficiency."
EDF Energy's Green Fund recently provided a grant to a school in Ilfracombe which planned to install solar panels at its site.
The project was also funded by the Low Carbon Building Programme.
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