A €4.12 billion (£3.5bn) French scheme to help the rollout of offshore wind vitality has been granted approval by the European Fee.
The state support will help the development of two floating offshore wind farms within the Gulf of Lion and can run for 20 years.
Every wind farm is predicted to have a capability of 230MW to 280MW and generate round 1.1TWh of renewable electrical energy per 12 months.
The measure can be open to 2 beneficiaries, to be designated in 2024 and chosen by a bidding course of.
The help will take the type of a month-to-month variable premium, below a two-way contract for distinction (CfD).
Commissioner Didier Reynders, accountable for competitors coverage mentioned: “This €4,12 billion scheme will enable France to speed up the deployment of renewable offshore wind capacities, consistent with the EU’s Offshore Renewable Vitality Technique.
“The scheme can even assist France cut back its dependence on Russian fossil fuels, consistent with the REPowerEU Plan, whereas making certain that any potential competitors distortions are stored to the minimal.”
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