France plans to invest €20 Billion in an energy transition plan
Prime Minister Edouard Philippe has announced that the French government plans to invest €20 billion in an energy transition plan. The announced plan includes:
- €9 billion towards improved energy efficiency,
- €7 billion for renewables and
- €4 billion to precipitate the switch to cleaner vehicles
According to sourcers, the €7 billion will be invested to boost the growth of French renewable energies by 70% over the next five years. This investment would support research and innovation to tackle climate change issues and accelerate the transition to low-carbon economy.
The plan for the transportation industry is to provide €4 billion into the switch of vehicles that will contribute less pollution (the transport industry responsible for a third of greenhouse gas emissions). Additionally, the €9 billion investment plan will finance renovations of 75,000 residences annually, or 375,000 over the government’s five-year term (buildings are responsible for at least 20 percent of the greenhouse gas emissions).
The funds are part of a €57-billion investment plan for 2018-2022 called 'Great Investment Plan 2018-22'. This investment plan has the objective of reviving France’s economy.
We have recently reported about several renewable enegy projects in France. The main projects are, among others:
- 496 MW Saint-Brieuc offshore wind farm in Brittany
- 1,116 MW Moray Offshore Wind Project
- 498 MW Fecamp offshore wind project
- 39 MW Vaite-Bussiere wind farm
- 10.5 MW Canadel solar project in Var
- 8.2 MW Carrieres-des-Plaines PV pplant in Alleins
- 1.8 MWe Biogasconha biogas project in Bayonne
- 1.8 MWe Biodeac biogas project in Loudeac
- 320 kV Piedmont-Savoy transmission project
