EU approves €10.82 billion plan for French offshore wind farms
Sustainability Economics
E2E AUTOMATION AND LIFECYCLE MANAGEMENT OF NET-ZERO TRANSITIONS
The European Commission announced that it has approved a €10.82 billion French scheme to support offshore wind energy deployment. It aims to help foster a transition towards Net-Zero economy.
The scheme was approved under the State Aid Temporary Crisis and Transition Framework (TCTF) and will run for 20 years.
The scheme targets to support the construction and operation of two bottom-fixed offshore wind farms, one in the South Atlantic zone and another in the Centre Manche 2 zone in Normandy.
The South Atlantic wind farm is expected to have a 1000 to 1200 MW capacity and generate at least 3,9 TWh of renewable electricity per year.
The Normandy wind farm is expected to have a capacity of 1400 to 1600 MW and to generate at least 6,1 TWh of renewable electricity per year.
Margrethe Vestager, Executive Vice President in charge of competition policy, said, “With this €10.82 billion scheme, France can deploy offshore wind capacities faster, in line with the EU Strategy on offshore renewable energy. It will also help France reduce its dependence on Russian fossil fuels while ensuring that any potential competition distortions are kept to the minimum.”