Economy

EU Greenlights France's Ambitious €11 Billion Offshore Wind Energy Initiative to Boost Renewable Power

France's Renewable Energy Leap

The European Commission has given the green light to a groundbreaking €11 billion offshore wind energy program in France. This ambitious 20-year project aims to construct and operate three floating offshore wind farms, each capable of generating approximately 2.2 terawatt hours of clean energy.

Strategic State Aid and Bidding Process

Under the Commission's approval, the French government is set to launch a bidding process to allocate state aid, selecting one recipient for each of the three designated sites. The tender will emphasize resilience, with a focus on diversifying wind turbine and key component supply chains. This move is strategically designed to reduce dependency on imports from China, ensuring a more sustainable and secure energy future for Europe.