France to Receive EU Funding for Floating Offshore Wind

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Researched by Industrial Info Resources (Sugar Land, Texas)--Under European Union (EU) state aid rules, the European Commission has approved a 2.08 billion-euro (US$2.2 billion) measure to support the construction and operation of a floating offshore windfarm in France.

The floating offshore project is expected to have a capacity of between 230 megawatts (MW) and 270 MW, and will be the first commercial-scale floating offshore windfarm in France. It will be located 20 kilometers from Pointe des Poulains in the region of Brittany in northwestern France.

The beneficiary of this measure (project developer) will be selected through a bidding process where bidders will compete mainly on the basis of the amount of aid per megawatt of installed capacity. The selection is planned for the second half of 2023.

Industrial info is tracking nine capital floating offshore wind projects in France, worth US$8.27 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for a list of detailed project reports.

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).