Europe Greenlights US$11.6 Billion Worth of Aid for French Offshore Wind

Researched by Industrial Info Resources (Sugar Land, Texas)--The European Commission has approved a substantial aid package of €10.82 billion (US$11.6 billion) to support the development of two offshore wind farms in France. This financial backing will fund the construction and operation of a wind farm in the South Atlantic zone with a capacity of 1-1.2 gigawatts (GW), which is expected to generate at least 3.9 terawatt-hours (TWh) of renewable electricity annually.

Additionally, a wind farm in the Centre Manche 2 zone in Normandy will be developed with a capacity of 1.4-1.6 GW and is projected to produce at least 6.1 TWh of renewable electricity annually. This initiative is part of the French government's State Temporary Crisis and Transition Framework (TCTF) and aligns with the EU Strategy on Offshore Renewable Energy, aiming to accelerate the deployment of offshore wind capacities and reduce dependence on Russian fossil fuels.

The financial aid will be disbursed through a monthly variable premium under a two-way contract for difference (CFD) model, ensuring competitive selection for project beneficiaries.

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Industrial Info is tracking 19 wind projects offshore France, totaling US$42 billion. Subscribers can click here for a list of detailed project reports and click here for a list of related plant profiles.

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