European Commission Provides Funding for French Offshore Windfarms

Researched by Industrial Info Resources (Sugar Land, Texas)--The European Commission (EC) approved the release of US$4.4 billion to support the rollout of offshore wind energy in France. This allocation, sanctioned under the State Aid Temporary Crisis and Transition framework, aims to hasten France's transition to greener energy sources. The funds are earmarked for the development and operation of two floating offshore windfarms situated in the Golfe du Lion of the Mediterranean Sea. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for the related reports.

The selection of the two beneficiaries will be meticulously overseen by the French government through an imminent tender process. Each windfarm will have a capacity ranging between 230 megawatts (MW) to 280 MW. Expected to be disbursed by December 31, 2025, this substantial financial backing is earmarked to remain effective for a duration of 20 years. The scheme was approved under the State Aid Temporary Crisis and Transition framework, adopted by the EC to accelerate green transition.

Despite having abundant wind resources and a long coastline, France has been lagging behind its European neighbors in offshore wind energy. However, this is changing, as France enacted its Renewable Energy Acceleration Law early this year, which is expected to boost progress in the country's offshore wind sector. France aims to have a total offshore wind capacity of 2 gigawatts (GW) by 2025, 7.8 GW by 2030 and 40 GW by 2050.

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