"France 2030 investment Plan"- Investment in renewable energy innovation

Country / jurisdiction: France · Year: 2022 · Status: In force · Level: National · Type: Voluntary

As part of the France 2030 national investment plan, the French government will invest EUR 1 billion in renewable energy innovation projects. The eventual aim is to increase the renewable power installed capacity by ten times by 2050, up to 100 GW. Offshore wind farms will represent 40 GW of this installed capacity.

In March 2022, the French Prime Minister announced the launch of two floating wind farm projects in the Mediterranean coast of metropolitan France. These two floating wind farms, with a capacity of approximately 250 MW each, will be completed later with two extensions of 500 MW each. The winners of the competitive bidding process will be selected in 2024 with a view to commissioning the farms by 2030. EUR 4.12 billions have been earmarked to support the construction and the operation of the project through a monthly variable premium under a two-way contract for difference (“CfD”), calculated on the basis of a reference price and the market price for electricity.

Official source: https://www.vie-publique.fr/discours/283773-emmanuel-macron-10022022-politique-de-lenergie