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Released July 18, 2024 | NEW DELHI
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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.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for the related project reports.
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.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
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.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for the related project reports.
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.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
