France plans to invest €20 Billion in an energy transition plan

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
France plans to invest €20 Billion in an energy transition plan

Prime Minister Edouard Philippe has announced that the French government plans to invest €20 billion in an energy transition plan. The announced plan includes:

  • €9 billion towards improved energy efficiency,
  • €7 billion for renewables and
  • €4 billion to precipitate the switch to cleaner vehicles

According to sourcers, the €7 billion will be invested to boost the growth of French renewable energies by 70% over the next five years. This investment would support research and innovation to tackle climate change issues and accelerate the transition to low-carbon economy.

The plan for the transportation industry is to provide €4 billion into the switch of vehicles that will contribute less pollution (the transport industry responsible for a third of greenhouse gas emissions). Additionally, the €9 billion investment plan will finance renovations of 75,000 residences annually, or 375,000 over the government’s five-year term (buildings are responsible for at least 20 percent of the greenhouse gas emissions).

The funds are part of a €57-billion investment plan for 2018-2022 called 'Great Investment Plan 2018-22'. This investment plan has the objective of reviving France’s economy. 

We have recently reported about several renewable enegy projects in France. The main projects are, among others:

 

List of country news

Country news

  • August 10, 2017

    Voltalia wins two PV projects in French solar tender

    Voltalia has announced that two solar projects with a total capacity of 8 MW have been selected by the French ministry for Ecological and Social Transition under the “CRE IV” national call for tenders.

    Read more
  • August 07, 2017

    EIB provides €130 M for 320 kV Italy-France transmission project

    Terna and the European Investment Bank (EIB) have signed an agreement for a €130 million (US$153 million) loan in support of investments for the public component of the Piedmont-Savoy project, the new 320 kV direct current electricity interconnector that will link Italy and France.

    Read more
  • August 03, 2017

    Boralex reaches financing 30 MW wind project in France

    Boralex has announced the closing of financing of €46.4 million (US$54.9 million) for the Chemin de Grès wind farm in France’s Nord department.

    Read more
  • August 01, 2017

    EDF EN acquires additional stake in FUTUREN

    EDF Energies Nouvelles has announced the results of its Simplified Public Tender Offer for FUTUREN (FTRN).

    Read more
  • July 27, 2017

    DIF sells €125-million renewable portfolio to Pension fund ABP

    Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.